A revised Senate bill introduced on July 14, 2026, would impose sanctions and tariffs on Russia and on the largest purchasers of Russian oil and natural gas, authorizing secondary tariffs of up to 100 percent, with the Office of the U.S. Trade Representative setting the actual rate.
The measure arrives days after the death of Sen. Lindsey Graham (R-S.C.) on July 11, who had championed the bill alongside Sen. Richard Blumenthal (D-Conn.) for more than a year while awaiting White House support. It now reportedly carries the backing of 85 senators, including Majority Leader John Thune, and President Trump indicated there is a good chance he would sign it.
Key trade-law provisions clients should note:
The secondary tariffs would be narrowly targeted at the five largest purchasers of Russian oil, identified as China, India, Slovakia, Hungary, and Azerbaijan, with Turkey added as a major natural-gas buyer. Because of overlap, fewer than 10 countries would be covered, down from as many as 63 in the original draft.
To be subject to the higher tariffs, a country must knowingly make new crude oil or natural gas purchases on or after 30 days following enactment, and must have ranked among the five largest importers of Russian oil or gas in the 12 months before passage.
The bill separately directs the administration to raise duties on Russian-origin goods by up to 500 percent, subject to an exception for uranium used in U.S. nuclear reactors and for medical isotopes.
An exception protects purchasers buying less than 15 percent of total Russian natural gas imports that are taking significant steps to reduce purchases, a carve-out intended to shield European allies. Tariff rates may also be adjusted based on a country's steps to increase, decrease, or halt Russian oil purchases, but any adjustment must be justified to Congress.
The bill also imposes full blocking sanctions across broad segments of the Russian economy, including its energy, financial, and defense-industrial sectors, as well as designated oligarchs and Vladimir Putin himself.
Why it matters: Importers and their counsel should watch this closely. If enacted, USTR-set secondary tariffs on goods from major economies like China and India could reshape sourcing and classification strategy, and the up-to-500 percent duties on Russian-origin goods would significantly affect any remaining permissible Russian imports.
Source: International Trade Today (Warren Communications News), July 14, 2026.