The US Senate passed a bipartisan bill allowing for tariffs of up to 100% on the five largest buyers of Russian crude oil and natural gas. The vote was 86-11 in favor of the legislation, named the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The president would have discretionary power to implement these tariffs, with China and India being the main targets. The bill now awaits consideration by the House of Representatives before it can be signed into law.
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