Trump backed bill could impose 100% tariffs on Russian energy buyers

A bipartisan group of US senators has agreed on legislation that would hand President Trump sweeping new powers to punish countries that keep buying Russian and Iranian energy. The deal, which came together in mid-July, would authorize tariffs as high as 100% on the top five purchasers of Russian oil and gas. What’s in the bill The legislation builds on the Sanctioning Russia Act of 2025, which originally targeted entities like Rosneft and Lukoil involved in energy trade with sanctioned nations. The new version goes considerably further. Under the proposed framework, the president could impose tariffs of up to 100% on the five largest national purchasers of Russian exports. For certain Russian goods or energy-related imports, duties could climb as high as 500%. The bill also introduces enhanced penalties targeting Iranian energy exports, bundling two of Washington’s favorite sanctions targets into a single legislative package. One specific focus is Russia’s so-called “shadow fleet,” a network of aging tankers used to circumvent existing sanctions by obscuring the origin and destination of oil shipments. The legislation aims to close those loopholes by giving enforcement agencies sh...