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Commodities

US Senators Propose Tariffs on Russian Oil Buyers Amid Ukraine Conflict

Guavy AI Editorial Team
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A bipartisan group of U.S. Senators has introduced legislation aimed at penalizing major importers of Russian and Iranian oil.

The 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026' proposes to impose tariffs of up to 100% on imports from countries that are primary buyers of Russian oil and gas, with a focus on the top five nations by volume.

This provision is designed to limit funding for Russia's operations in Ukraine and curtail Iran's energy and weapons programs.

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