US House amendments propose 100% tariffs on Russia's oil trading partners

US lawmakers have introduced amendments to the Lindsey O. Graham Sanctioning Russia and Iran Act, a bill aimed at targeting Russia’s energy sector and the “shadow fleet” used to evade oil sanctions. One amendment, proposed by Democratic Congressman Steny Hoyer, seeks to specifically name several nations as eligible for 100 per cent tariffs. The proposed list includes India, China, Turkiye, Azerbaijan, Hungary, the Slovak Republic, the UAE, Singapore, Kazakhstan, and the Kyrgyz Republic.

The legislation is driven by the US belief that Russia’s crude oil trade provides funding for its war against Ukraine. While the Senate previously passed the bill with an 86-11 vote, the version currently before the House of Representatives includes these new provisions.

In contrast, another amendment moved by Democratic Congressman Gregory Meeks seeks to entirely scrap Section 113 of the bill. This section would grant the US President the authority to impose broad secondary tariffs on Russia’s major oil-trading partners. The House has four working days remaining before an early recess ahead of the November 3 midterm elections.