US Senate Passes Bill Empowering President Trump to Impose 100% Tariffs on Buyers of Russian Oil and Gas

The US Senate has approved a stringent bipartisan bill by an 86-11 vote, named the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026', aimed at penalizing nations fueling the Ukraine war through energy trade.

Key Highlights:
- Tariff Provision: The bill empowers President Donald Trump to impose a 100% tariff on goods from the top five importers of Russian oil and gas, currently comprising China, India, Azerbaijan, Hungary, and Slovakia.
- Legislative Backing: Advanced by late Senator Lindsey Graham and Democrat Richard Blumenthal, the bill also extends the Iran Sanctions Act of 1996 through 2031.
- Domestic Criticism: Some US lawmakers have criticized the measure, calling a 100% tariff on partners like India 'suicidal' while attempting to counter China. The bill now heads to the House of Representatives when it reconvenes on August 31.