Updated Senate Russia sanctions bill cuts maximum secondary tariffs to 100%

The revised measure, negotiated with the Trump admin, lowers the cap for the top five buyers of Russian oil and gas from a higher prior level.

Summary

An updated Senate Russia sanctions bill would set the maximum secondary tariffs (penalties imposed on third-country trade) on the top five buyers of Russian oil and gas at 100%, down from a higher prior level. The revision was negotiated with the Trump admin, indicating a softer ceiling than earlier versions of the measure while keeping pressure on countries that continue purchasing Russian energy exports.

Terms & Concepts
  • secondary tariffs: Trade penalties applied to third parties
  • sanctions: Government-imposed economic or financial penalties