The US Senate on Tuesday unveiled a revised Russia sanctions bill that significantly softens its proposed tariff penalties on major buyers of Russian oil, including India and China, reducing the maximum tariff from a blanket 500% to up to 100% for the five largest purchasers of Russian crude, Reuters reported.
The bipartisan legislation, backed by Republican and Democratic senators, seeks to intensify pressure on Moscow by sanctioning Russian officials, financial institutions and energy projects while using tariffs to discourage countries from continuing to buy Russian oil and gas. The revised draft follows months of negotiations with President Donald Trump, who recently endorsed moving the bill forward.
