[REVISION HISTORY]

US Senate passes tariffs on top Russian oil buyers

Updated 20 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-05 17:05 UTC → 2026-09-10 07:22 UTC · added ~~removed~~

In early August, the U.S. Senate passed the ‘Lindsey O. Graham Sanctioning Russia and Iran Act of 2026’ with an 86-11 bipartisan vote. The legislation authorizes 100% tariffs on goods from the five largest importers of Russian crude and gas—India, China, Azerbaijan, Hungary, and Slovakia—and extends the Iran Sanctions Act through 2031. The bill targets Russia’s ‘shadow fleet’ of tankers and imposes sanctions on high-ranking Russian officials. As the bill moves to the House, India’s reliance on Russian energy remains a central concern. While July data showed Russian crude accounted for 50.83% of India’s total oil imports, reports for FY2026 indicate Russia accounts for approximately 30% of India’s crude imports. In response to potential U.S. trade measures, including a proposal for 100% tariffs on generic medicines starting in 2028, Indian Commerce Minister Piyush Goyal has proposed creating specialized ‘plug-and-play’ industrial smart cities to encourage U.S. investment. These potential tariffs complicate ongoing negotiations for a Bilateral Trade Agreement (BTA) between India and the United States. Indian officials are seeking tariff terms that provide exporters a competitive advantage over regional rivals such as Vietnam, Thailand, and Malaysia. Discussions currently cover market access, digital trade, and supply-chain resilience. By early September, Commerce Secretary Rajesh Agrawal stated the BTA is ‘more or less’ finalized. Both nations are working on a framework to establish preferential market access to bridge the gap between India’s most-favoured-nation tariffs and the U.S. executive tariff system. However, significant risks persist. Beyond the Graham Act, a proposal by Donald Trump to impose 100% tariffs on generic medicines in 2028—unless manufacturing is reshorred to the U.S.—poses a threat to India’s pharmaceutical industry. While U.S. Ambassador to India Sergio Gor reported ‘real progress’ regarding the BTA, the legislation faces hurdles in the House of ~~Representatives, where some Democrats have expressed concerns~~ Representatives regarding expanded ~~tariff-imposing powers granted to the president. Meanwhile, Ukraine continues to lobby Congress to advance the act before the November elections.~~ presidential tariff powers.

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