The Senate on Friday passed a major Russia sanctions bill, named for the late Sen. Lindsey Graham, who played a key role in the negotiations over the legislation. The bill would place mandatory sanctions on top figures in the Russian government, including Russian President Vladimir Putin, as well as Russian oligarchs, state-owned enterprises and foreign companies supporting Russia’s defense industrial base.

Sanctions and Tariffs

In addition, it would impose up to a 100% tariff on the top five countries, including China and India, that purchase Russian crude oil and natural gas. The US Trade Representative, Jamieson Greer, would determine the final tariff level. The bill allows an exemption for countries that import less than 15% of Russia’s total natural gas exports and are working to significantly lower their use of Russian natural gas.

The Senate took its first procedural vote on the package in the hours after Graham’s DC funeral. Ukrainian President Volodymyr Zelensky, who attended the service, met with senators in the Capitol and watched the vote from the gallery above the chamber.

Sen. Richard Blumenthal, the lead Democratic co-sponsor of the bill, emphasized that while he had seen Graham at times frustrated with the president over the package, Graham never gave up on it. The original text of the package had minimum tariffs set to 500%, with fewer exceptions. However, over more than 15 months of negotiations, the administration and congressional negotiators had reached a lower tariff number, but also given the execution power to Greer, rather than the president directly.

Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.