India, China fear 100% US tariffs after Senate clears bill to sanction Russia, major buyers: What we know
The US Senate passed a bipartisan bill to impose sanctions on Russia and Iran, allowing President Donald Trump to levy 100% tariffs on major buyers of Russian petroleum products, including India and China. The bill also targets Russian officials and extends Iran sanctions until 2031.
The US Senate overwhelmingly approved a bill on Friday to sanction Russia and Iran, allowing President Donald Trump to impose 100% tariffs on key importers India and China. The bipartisan legislation, renamed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, was championed by Republican Senator Lindsey Graham and Democrat Richard Blumenthal.
The bill aims to punish Russia and its major oil and gas buyers, including China, India, Azerbaijan, Hungary, and Slovakia, by prohibiting US purchases of their petroleum products. It also extends the Iran Sanctions Act of 1996 until 2031, maintaining penalties against companies investing in Iran's energy sector. The bill is set to be sent to the House of Representatives for approval on August 31.
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