Daijiworld Media Network – Washington

Washington, Jul 15: The US Senate has introduced a revised Russia sanctions bill that significantly reduces the proposed tariff on countries such as India and China for purchasing Russian oil and natural gas.

The bipartisan legislation lowers the maximum tariff on major buyers of Russian energy to 100 per cent, down from the earlier proposal of a blanket 500 per cent tariff. The move is aimed at increasing pressure on Moscow while encouraging countries to reduce their dependence on Russian energy.

According to the revised bill, the five largest importers of Russian crude oil — China, India, Slovakia, Hungary and Azerbaijan — could face tariffs if they continue large-scale purchases. Major importers of Russian natural gas, including China, France, Japan, Hungary and Belgium, are also covered under the proposed legislation.

The bill provides exemptions for countries that import less than 15 per cent of Russia's natural gas exports and are actively reducing their reliance on Russian supplies. This provision could benefit countries such as Japan, France, Hungary and Belgium.

In addition to tariffs, the legislation proposes sanctions targeting Russia's so-called "shadow fleet" of oil tankers, Russian financial institutions including the country's central bank, and major energy projects such as Yamal LNG and Arctic LNG.

The updated proposal also includes a provision allowing US President Donald Trump to waive sanctions if he determines that doing so is in the national interest of the United States.

The legislation has received bipartisan backing, with 26 senators co-sponsoring the bill. Senate aides said they expect additional support as it advances following months of negotiations with lawmakers and the White House.

The original version of the bill had been championed by the late Senator Lindsey Graham, who had earlier announced that he had reached an understanding with President Trump to move the legislation forward.