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Senate Bill Cuts Russia Sanction Tariffs, Allows Trump Waivers

7/14/2026

37 4 Full Breakdown

Summary

Story summary

Senators unveiled a Russia sanctions bill that cuts tariffs from 500% to a maximum 100% on the five buyers.
The measure, introduced July 14, 2026, lets President Donald Trump waive or adjust sanctions and exempts nations importing under 15% of Russia’s gas.
It also sanctions Russia’s shadow tanker fleet, central bank and state-owned LNG projects, with White House and Senate leaders backing it while Sen. Rand Paul seeks a delay.

History

Historical Context

After Russia’s 2014 annexation of Crimea, the United States and European Union imposed coordinated sanctions that froze about $1.5 billion in assets and black-listed 30 firms. Building on that precedent, the 2026 bill slashes tariffs on Russian oil buyers from 500% to 100%, authorizes President Donald Trump to adjust sanctions, and targets shadow tankers and Gazprom, echoing earlier financial pressure tactics.

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Story summary

Senators unveiled a Russia sanctions bill that cuts tariffs from 500% to a maximum 100% on the five buyers.
The measure, introduced July 14, 2026, lets President Donald Trump waive or adjust sanctions and exempts nations importing under 15% of Russia’s gas.
It also sanctions Russia’s shadow tanker fleet, central bank and state-owned LNG projects, with White House and Senate leaders backing it while Sen. Rand Paul seeks a delay.

1 / 2