US senators water down Graham's Russia sanctions bill

It waters down the original proposals for "punitive" tariffs on countries importing Russian energy resources, Reuters reports.

The updated version proposes a maximum tariff rate of 100% for the top five importers, while the original proposed tariff rate was 500% for all.

Exceptions are provided for countries that import less than 15% of Russian natural gas exports and that are "taking significant steps to reduce imports." This would include Japan, France, Belgium, and Hungary.

The top five importers of Russian oil are currently China, India, Slovakia, Hungary, and Azerbaijan, while the top five importers of gas are China, France, Japan, Hungary, and Belgium, according to aides involved in drafting the text.

The draft envisages sanctions against "shadow fleet" tankers that do not use Western companies; against Russian financial institutions, including the Central Bank of Russia; and against major Russian state energy projects, including Yamal LNG and Arctic LNG.

The updated version includes a provision allowing Trump to suspend the sanctions if he deems it in the US national interest.

Senator aides noted that the draft had 26 co-sponsors and currently has a high chance of passing.

One of the sources said the easing of sanctions was the result of months of negotiations aimed at reaching an agreement with Trump, and the "compromise" version appears to be the only viable option that has sufficient support and can be adopted.

Photo: zn.ua.