Overview

• The bill sponsored by Sen. Lindsey Graham has attracted 84 cosponsors and is set for a Senate floor vote after the July recess following President Trump’s instruction to “move your bill.”
• It would impose 500% tariffs on any country importing Russian energy or resources, directly targeting major buyers such as China and India to coerce Moscow into Ukraine peace negotiations.
• The White House is privately urging that all “shall” clauses be revised to “may,” giving the president broader waiver authority over tariff enforcement.
• Kremlin spokesman Dmitry Peskov cautioned that enforcing punitive tariffs could undermine efforts to broker a settlement in Ukraine and dismissed the bill’s backers as Russophobic.
• Analysts warn that passage could strain U.S. trade ties with India and China, complicating existing negotiations and risking significant economic fallout.