US Senate passes new sanctions against Russia targeting energy sector

The United States Senate has approved a substantial new package of sanctions against Russia, with a strong bipartisan majority voting in favor. The measures primarily target Russia's vital hydrocarbon industry, aiming to cripple its ability to fund the ongoing conflict in Ukraine.

The legislation, which now requires approval from the House of Representatives, is not expected to be voted on until early September due to the upcoming parliamentary recess. Senator Jim Risch, the Republican chairman of the Foreign Relations Committee, expressed optimism, stating that the law "brings us closer to an end to the conflict." He argued that the sanctions would have a decisive impact beyond the battlefield, effectively "cutting off the flow of money that fuels Putin's war machine."

Key provisions of the bill include imposing a 500% tariff on Russian oil and gas imports. Additionally, it introduces a 100% tariff on Russian energy imports from the top five importing countries, including China and India. New sanctions are also planned against Russian President Vladimir Putin and other high-ranking officials. For the first time, the U.S. is also targeting Russia's "ghost fleet" – the vessels used by Moscow to circumvent Western embargoes since the 2022 invasion of Ukraine.

The bill is named in honor of the late Republican Senator Lindsey Graham, who had been a strong advocate for increased sanctions against Moscow. His sister, Darline Graham, who has replaced him in the Senate, stated that the final adoption of the bill would not only honor her brother but also "hit Putin where it hurts." She explained that the measures "specifically target those who support Russia's war in Ukraine" and "force the major countries keeping Russia's economy afloat to make a simple but critical choice between doing business with America or buying cheap Russian energy."