Trump greenlights bipartisan bill to impose 500% tariffs on buyers of Russian oil

 U.S. President Donald Trump has given the "green light" to a bipartisan sanctions bill designed to punish countries that continue to purchase discounted Russian oil, Republican Senator Lindsey Graham announced on Thursday.

Following a "very productive" meeting with the President, Graham stated that the legislation—the Sanctioning Russia Act of 2025—could be put to a vote in the Senate as early as next week.

A key provision of the bill, co-authored with Democrat Richard Blumenthal, mandates a minimum 500% tariff on all goods and services from countries knowingly importing Russian crude, petroleum products, or uranium.

Graham emphasized that the measure provides Trump with "tremendous leverage" to pressure major economies like China, India, and Brazil to cease financing Moscow’s military efforts in Ukraine.