WSJ: Lindsey Graham’s Russia ‘sanctions’ bill is really a tariffs bill, and some Democrats fear it hands Trump a trade weapon, not a blow to Moscow

A revised sanctions bill co-authored by Senator Lindsey Graham, who died several days ago, would authorize the U.S. president to impose tariffs of up to 100% on the five largest buyers of Russian oil and natural gas — China and India chief among them — The Wall Street Journal reported, citing sources.

The tariffs could target both countries and private individuals who help supply Russian energy. The decision to impose them would rest solely with the president.

According to Reuters, the five largest buyers of Russian oil are China, India, Slovakia, Hungary, and Azerbaijan; for natural gas, they are China, France, Japan, Hungary, and Belgium. The updated bill includes an exemption for countries that draw less than 15% of the natural gas they consume from Russia and are taking significant steps to cut those imports — a carve-out that could shield Japan, France, Hungary, and Belgium from the tariffs.

The bill also calls for sanctions against Russian defense, energy, and financial organizations, as well as Russia’s shadow fleet.

If passed, it would mark the first time Congress has authorized tariffs as a geopolitical weapon; previously, they were used to counter unfair trade practices, analysts interviewed by The Wall Street Journal said.

Reuters calls the new version of the sanctions bill “watered down.” The original version, introduced in April 2025, would have imposed 500% tariffs on U.S. imports from countries that buy Russian oil and gas.