The United States has unveiled revisions to a proposed Russia sanctions bill that would reduce tariff-based penalties on countries buying Russian oil and gas. According to Reuters, lawmakers lower the maximum proposed tariff threat to 100% from an earlier flat 500%, a change aimed at maintaining pressure on Moscow while easing costs for major importers—particularly China and India, the two largest buyers of Russian crude. The bill is intended to target Russian officials while using tariffs to discourage continued reliance on Russian energy during the war in Ukraine. Sources also say the updated version includes waiver and exemption mechanisms. One provision allows exemptions for countries that import less than 15% of Russia’s natural gas exports and take steps to reduce those imports. Other parts of the proposal are described as focusing on areas such as Russia’s “shadow fleet” and financial institutions linked to the war, and the revised legislation is presented as a way to broaden political support. The reporting also notes that the US president could waive the sanctions if deemed to be in the national interest, and that additional sanctions related to Iran and Hezbollah could be considered.
US revises Russia sanctions bill, cutting proposed oil-gas tariff on China and India to 100%
The United States has unveiled revisions to a proposed Russia sanctions bill that would reduce tariff-based penalties on countries buying Russian oil and gas. According to Reuters, lawmakers lower the...
- The revised US Russia sanctions bill reduces the maximum proposed tariff on countries importing Russian oil and gas to 100% from 500%.
- The changes are aimed at major Russian energy buyers, including China and India.
- The bill includes exemptions for countries importing under 15% of Russia’s natural gas exports and taking steps to reduce imports.
- A provision allows the US president to waive sanctions if acting in the US national interest.
- The bill is presented as targeting Russian officials, with additional attention to tools such as Russia-linked shipping (“shadow fleet”) and financial institutions.
Washington DC: The United States has proposed revisions to its Russia sanctions bill that could provide relief to India and China, the world's two largest importers of Russian crude oil.The updated proposal significantly softens the earlier tariff plan, reducing the maximum proposed tariff on countries buying Russian energy, according to Reuters.Revised tariff proposalThe proposed legislation aims to impose sanctions on Russian officials while using tariffs to discourage countries such as India and China from continuing to rely on Russian energy imports.US lawmakers argue that the measures would increase economic pressure on Moscow to end its four-year-long war in Ukraine, a conflict that has claimed an estimated 2 million military lives and caused nearly $200 billion in damage across the country.Republican and Democratic lawmakers on Tuesday unveiled an updated version of the Russia sanctions bill, reducing the proposed maximum tariff on countries importing Russian oil and gas to 100%, a significant drop from the earlier proposal of a flat 500% tariff.Exemptions and waiver provisionsThe revised version also allows an exception for countries that import less than 15 per cent of Russia's natural gas exports and are taking proactive steps to reduce those imports, which could exempt Japan, France, Hungary, and Belgium.'You Won't Have Anybody Left': US President Donald Trump Threatens Strikes On Iran's Power Plants, Bridges Unless Tehran Agrees To Deal | VideoBesides, the new version includes a provision that allows US President Donald Trump to waive the sanctions if he deems it in the US national interest to do so.Trump signals further additionsMeanwhile, Trump told reporters at the White House that sanctions on Iran and Hezbollah might be added to the bill, saying it would be a "very big thing" if those measures were added. The president also expressed optimism that the bill would pass and become law.
3 hours agoThe revised bill cuts proposed tariffs on major buyers of Russian energy to 100% from 500% and allows exemptions for countries reducing imports
5 hours agoUS senators unveiled a revised Russia sanctions bill targeting major energy buyers. This legislation seeks to pressure Moscow and its key oil and gas importers. The updated bill reduces previously proposed tariffs on top purchasers like China and India. It also targets Russia's shadow fleet and financial institutions involved in its war. This measure aims to secure broader political support and honor Senator Lindsey Graham's legacy.
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