Key facts
- A revised Russia sanctions bill, the Sanctioning Russia Act of 2026, has over 60 Senate co-sponsors.
- The bill targets major purchasers of Russian oil and gas with tariffs up to 100%.
- It also imposes sanctions on Russian leadership, enterprises, and the 'shadow fleet'.
- The legislation includes provisions for presidential waiver authority, with Congressional oversight.
- The bill faces criticism in the House of Representatives for granting broad tariff authority to the President.
The U.S. Senate is advancing a revised sanctions bill targeting Russia's energy exports and its "shadow fleet" of oil tankers, a legislative effort spearheaded by the late Senator Lindsey Graham. The Sanctioning Russia Act of 2026, introduced on July 14, has garnered significant bipartisan support, with over 60 co-sponsors, and Senate leaders are pushing for an immediate vote.
The bill represents a compromise after months of negotiations, particularly with the Trump administration, focusing on imposing tariffs of up to 100% on the top five purchasers of Russian oil and natural gas, including China and India, while offering exemptions for certain natural gas importers. This approach aims to maintain pressure on Russia's primary revenue source without unduly harming U.S. allies.
Beyond tariffs, the legislation mandates sanctions against Russian President Vladimir Putin, senior political and military leaders, state-owned enterprises, and financial institutions. It also broadens sanctions against the "shadow fleet" used to circumvent existing restrictions.
A key compromise involved preserving presidential flexibility, allowing the President to waive sanctions under specific circumstances, though with tighter Congressional oversight. President Trump has indicated the bill has a "good chance" of passing.
Supporters, including Senators Richard Blumenthal and Jeanne Shaheen, argue the bill is crucial for cutting off funding for Russia's war in Ukraine. However, the legislation faces opposition in the House of Representatives, with Representative Gregory Meeks criticizing it as granting excessive tariff authority to the President rather than mandating automatic sanctions.
Despite House criticism, Senate supporters express confidence in securing enough votes for passage, viewing the bill as a significant legacy for Senator Graham and a critical tool to pressure the Kremlin.