A bipartisan coalition of senators on Tuesday introduced legislation championed by the late Sen. Lindsey Graham that aims to penalize Russian energy exports and international entities that purchase them. The bill, co-sponsored by Democratic Sen. Richard Blumenthal, is poised for a favorable vote following White House approval of its terms on Friday.
The legislation, presented at a news conference on Capitol Hill, carries Graham's personal endorsement, according to a Senate aide. The bill's text remains unchanged since his passing.
The proposed law targets Russian financial institutions and its major state-run energy projects, in addition to imposing sanctions on those involved in the oil and natural gas trade with Russia. The five largest importers of Russian crude oil would face tariffs up to 100%, and the top five importers of its natural gas would also be subject to sanctions. Exemptions are outlined for purchasers of natural gas, including U.S. allies such as France and Japan, who are in the process of reducing their reliance on Russian imports.
China, identified as the leading importer of both Russian crude oil and natural gas, would be subject to a 100% tariff, though the bill specifies that these tariffs cannot be combined to reach 200%. Additionally, countries trading defense items with Russia, such as Iran, would face penalties if the bill is enacted and signed by President Donald Trump, a Senate aide indicated.
President Trump, when asked about the bill, stated his awareness of Graham's strong support for it and mentioned the potential addition of Iran and Hezbollah. However, Sen. Blumenthal expressed that the bill has undergone extensive negotiation over nearly two years and suggested focusing on the current text rather than introducing new targets.
The bill had been stalled for over a year awaiting White House approval and adjustments. A Senate aide noted that discussions with Treasury Secretary Scott Bessent during the NATO summit in Ankara were instrumental in securing the administration's agreement. The aide also pointed to the current geopolitical climate, suggesting that "the momentum that Ukraine is demonstrating on the battlefield is pretty much understood and felt all around" in Washington, making it an opportune moment for additional pressure on Moscow.
Sen. Blumenthal described the bill's passage as a "fitting tribute" to Graham. He recalled Graham’s enthusiasm from Kyiv, mentioning his communication that President Trump would support the sanctions to curb Russia's war funding.
"Now is the time to push Russia toward peace. Ukraine is gaining net territory and reaching deep into Russia with its drones and missiles. Sanctions provide a path toward peace," Blumenthal stated.
Sen. Tom Cotton, a Republican supporter of the bill, urged its immediate passage. "As Senator Graham knew well, raising the costs on Russia is the only solution. Our bill will further restrict their energy sales to strangle Putin's war machine and bring him to the negotiating table," Cotton said.