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US Senate passes Russia sanctions bill, India faces tariff risk
It also includes sanctions on Russian leaders and officials, targeting Russian President Vladimir Putin, oligarchs and financial institutions. At the request of President Donald Trump, the bill extends sanctions on Iran's weapons and energy sectors.
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Staff Reporter - Sat, 08, Aug 2026
- 03:22 EDT
- 19
U.S. President Donald Trump and Russia's President Vladimir Putin talk during the family photo session at the APEC Summit in Danang, Vietnam November 11, 2017. / REUTERS/Jorge Silva/File Photo
The U.S. Senate on Aug. 7 passed legislation that could impose tariffs of up to 100% on five countries, including India and China, for their purchases of Russian oil and gas as part of efforts to target Russia's energy revenues amid its ongoing war with Ukraine.
The legislation, named "The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026," was passed with bipartisan support, 86-11, and will now proceed to the House, which is on recess until September.
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It aims to hurt Russia's war effort in Ukraine by penalizing purchasers of Russian oil and Russian leaders.
The bill would impose tariffs of up to 100% on countries that are within the top five purchasers of Russian crude oil or gas. Oil revenue is key to funding Russia's military action. Although the bill does not name specific countries, China, India, Azerbaijan, Hungary and Slovakia are among the five countries identified as the largest importers of Russian oil and gas.
It imposes a variety of sanctions, tariffs and prohibitions related to Russia.
It also includes sanctions on Russian leaders and officials, targeting Russian President Vladimir Putin, oligarchs and financial institutions. At the request of President Donald Trump, the bill extends sanctions on Iran's weapons and energy sectors.
The bill now goes to the Republican-controlled House.
According to commodity analytics firm Kpler, India's imports of Russian crude climbed to a record 2.78 million barrels per day (bpd) in July, up 1.5% from June. Russian oil accounted for more than half of India's total crude imports, underscoring Moscow's position as New Delhi's dominant supplier.
India's overall crude oil imports stood at 4.96 million bpd during the month.
The legislation was passed days after Graham's death. Graham was a South Carolina Republican who died last month.
Ukrainian President Volodymyr Zelenskyy thanked the U.S. Senate for the passage of a bill imposing sweeping sanctions on Russia. Shortly before his death, Graham met with Ukrainian President Volodymyr Zelenskyy and announced he had reached a deal with the White House to support the bill. After his death, Graham's Senate colleagues said they would name the legislation in his honor.
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