Bipartisan members of the US Congress disclosed an amendment to a Russia sanctions bill on July 14. It stipulates that countries ranking among the top five in imports of Russian crude oil and natural gas would face tariffs up to 100%.
The legislative effort had been led by Senator Graham, who passed away suddenly on July 11, a day after visiting the Ukrainian capital Kyiv and indicating that an agreement had been reached with the White House on the bill. The amendment was unveiled by Republican Senator Wicker and Democratic Senator Blumenthal.
The amendment aims to target nations that support Russia's finances through energy purchases via a "secondary sanctions" mechanism. Compared to the previous version of the bill, the scope has been narrowed. The old bill had planned for tariffs up to 500% on 63 countries, while the new draft reduces the number of targeted nations.
According to Senator Blumenthal, the top five purchasers of Russian crude oil are China, India, Slovakia, Hungary, and Azerbaijan. Following the Russia-Ukraine conflict, US and European sanctions reduced the number of buyers for Russian energy, and China expanded its purchases.
The draft includes an exemption provision for natural gas imports. If a country accounts for less than 15% of Russia's natural gas exports and has taken significant steps to reduce imports from Russia, it can be excluded from the sanctions list. There are 15 such nations, and Reuters reported that Japan and France may be among them.
US President Trump expressed optimism about the bill's prospects on July 14. He stated that it was Senator Graham's long-held wish and that its passage was "very likely."