New Delhi: The United States has introduced a revised version of its proposed Russia sanctions bill, significantly reducing the maximum tariff that could be imposed on countries importing Russian oil and natural gas. The updated proposal lowers the tariff ceiling from the previously suggested 500 per cent to 100 per cent, offering potential relief to major buyers of Russian energy, including India and China.
The bipartisan legislation is designed to increase economic pressure on Russia over its prolonged war in Ukraine. Along with sanctions targeting Russian officials and financial institutions, the bill aims to discourage countries from relying heavily on Russian energy by allowing the US president to impose tariffs of up to 100 per cent on major importers.
The revised proposal also introduces an exemption for countries that import less than 15 per cent of Russia’s natural gas exports and are actively reducing their dependence on Russian supplies. This provision could benefit countries such as Japan, France, Hungary and Belgium.
Beyond tariffs, the bill expands sanctions against Russia’s shadow fleet of oil tankers that operate outside Western maritime services. It also targets the Central Bank of the Russian Federation and several major state backed energy projects, including Yamal LNG and the Arctic LNG projects.
Another key change gives the US president the authority to waive sanctions if doing so is considered to be in the national interest. This provision was included after months of negotiations aimed at securing broader political support for the legislation.
Lawmakers involved in drafting the bill remain optimistic about its chances of becoming law. The proposal has attracted bipartisan backing and is expected to move through the legislative process in the coming weeks.
The US administration has also indicated that additional sanctions targeting Iran and Hezbollah could be considered. However, some lawmakers have urged that the current version of the bill be advanced without further changes to maintain momentum and avoid delaying its passage.
