US Senate Bipartisan Deal Grants Trump Sweeping Energy Sanctions Powers

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

The proposed framework builds on existing sanctions targeting entities like Rosneft and Lukoil involved in energy trade with sanctioned nations. Under the new legislation, the president could impose duties of up to 500% on certain Russian goods or energy-related imports, including a specific focus on Russia's 'shadow fleet', a network of aging tankers used to circumvent existing sanctions.

A procedural vote is scheduled for July 28, and the bill has reportedly gained momentum following the recent death of Senator Lindsey Graham. The legislation aims to close loopholes in existing sanctions by giving enforcement agencies sharper tools to track and penalize these operations.