Key facts
- The U.S. House of Representatives will consider sweeping legislation to impose tariffs of up to 100% on countries buying Russian oil and gas.
- The bill, spearheaded by the late Senator Lindsey Graham, passed the Senate with overwhelming bipartisan support.
- The legislation targets major Russian government figures, financial institutions, and state-owned companies.
- China, India, and Turkey are among the largest buyers of Russian oil and major importers of Russian natural gas.
- The US Trade Representative will determine the final tariff levels.
The U.S. House of Representatives is set to consider sweeping legislation next week that would impose tariffs of up to 100% on countries buying Russian oil and gas. The bill, spearheaded by the late Republican Senator Lindsey Graham, passed the Senate with overwhelming bipartisan support in August and is scheduled for consideration by the House Rules Committee on September 14.
The legislation aims to increase pressure on Moscow and demonstrate continued U.S. support for Ukraine by targeting major purchasers of Russian energy and entities that help Russia evade sanctions. Countries importing less than 15% of Russia's total natural gas exports and actively reducing those imports would be exempt. The bill also includes sanctions on Russian President Vladimir Putin, senior officials, major financial institutions, and state-owned companies.
Supporters view the bill's passage as a tribute to Senator Graham's legacy. Ukrainian President Volodymyr Zelensky attended the Senate vote, emphasizing the bill's importance in disrupting Russia's war financing. Representatives Joe Wilson, Steny Hoyer, and Michael McCaul are among those who introduced the companion legislation in the House.