US senators from the Republican and Democratic parties have reached an agreement on a new sanctions bill against Russia, Bloomberg reports.
The bill would authorize the US president to impose tariffs of up to 100% on imports from countries that are among the largest buyers of Russian oil and natural gas, as well as those helping Russia evade sanctions. The tariffs are expected to apply to the five largest purchasers of Russian energy resources and the five countries playing the biggest role in sanctions circumvention.
Under the bill, the president would also gain the authority to impose tariffs of up to 500% on goods imported from Russia into the United States.
According to Bloomberg, the bill was amended this week to limit the new tariff authority to five years. It also provides for extending the 1996 Iran Sanctions Act until 2031 and imposing secondary sanctions on non-US companies maintaining business ties with Iran.
The sanctions package could be passed by the Senate this week. As the House of Representatives has adjourned for its August recess, it will not be able to consider the bill before September.
One of the authors of the bill was the late Senator Lindsey Graham. The legislation has been named after him and is titled the "Lindsey O. Graham Sanctioning Russia Act of 2026."
According to the report, US President Donald Trump initially criticized the initiative but later backed the bill. The earlier version proposed a 500% tariff on imports from countries purchasing Russian energy products, while the latest version reduces the maximum rate to 100% and limits the measure to specific countries.
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