US senators have released an updated version of a sanctions bill against Russia, reports Factor. The document is supported by both Republican and Democratic lawmakers.
The bill proposes restrictions on Russian officials and energy projects, specifically targeting the Yamal and Arctic LNG projects. Sanctions are also set to be imposed on the Central Bank of Russia and its shadow fleet.
Compared to the initial version, the tariff rates have been eased. While a tariff of up to 500% was previously proposed, it is now capped at 100%. Exceptions may be made for countries that significantly reduce their imports of Russian gas.
The five largest buyers of Russian oil are China, India, Slovakia, Hungary, and Azerbaijan. These are the countries that could fall under the impact of the new restrictions.
The late Senator Lindsey Graham was among the co-authors of the bill. President Donald Trump has spoken positively about the bill's prospects, noting that it is highly likely to be passed in honor of Graham’s memory. The legislation also includes a provision allowing Trump to waive sanctions if deemed in the national interest.
