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Senate Advances 500% Tariff Bill Targeting Russian Energy Buyers as Trump Seeks Waiver Control

Set for the Senate floor with more than 80 sponsors the bill reflects Trump’s effort to secure broad waiver powers to delay or cancel tariffs

U.S. President Donald Trump and Russia's President Vladimir Putin are seen during the G20 leaders summit in Buenos Aires, Argentina November 30, 2018. REUTERS/Marcos Brindicci/File Photo
FILE PHOTO: Russia's Foreign Minister Sergei Lavrov and U.S. Secretary of State Marco Rubio speak during the 15th East Asia Summit Foreign Ministers' Meeting at the Convention Centre in Kuala Lumpur, Malaysia July 11, 2025. REUTERS/Hasnoor Hussain/File Photo/File Photo
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Overview

  • The Sanctioning Russia Act now has 80 co-sponsors and could reach a floor vote as soon as the week of July 21.
  • It mandates a 500% tariff on all US imports from countries that purchase Russian oil, gas, uranium and other exports.
  • The White House is pushing to change the bill’s language from “shall” to “may” to expand presidential discretion and remove Congress’s veto over tariff waivers.
  • India’s External Affairs Minister S. Jaishankar and Oil Minister Hardeep Singh Puri have engaged with bill sponsors to defend discounted Russian oil imports and warn of rising replacement costs.
  • Analysts warn the measure could disrupt global trade, drive up US consumer prices and strain ties with major importers like India and China.