Trump-Backed Bill Aims to Impose Record Tariffs on Russian Energy Buyers

A bipartisan group of US senators has agreed on legislation that would grant President Trump sweeping new powers to punish countries buying Russian and Iranian energy. The deal, finalized in mid-July, would allow tariffs as high as 100% on the top five purchasers of Russian oil and gas.

The proposed framework builds on the Sanctioning Russia Act of 2025, targeting entities like Rosneft and Lukoil involved in energy trade with sanctioned nations. However, this new version goes further, enabling the president to impose tariffs of up to 100% on the five largest national purchasers of Russian exports.

Certain Russian goods or energy-related imports could face duties as high as 500%. The legislation also introduces enhanced penalties targeting Iranian energy exports, bundling two of Washington's favorite sanctions targets into a single package.

The bill aims to close loopholes in the 'shadow fleet,' a network of aging tankers used to circumvent existing sanctions by obscuring the origin and destination of oil shipments. Enforcement agencies would be given sharper tools to track and penalize these operations under the proposed framework.