US Senate Passes Russia Sanctions Bill Targeting Energy Buyers
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Insights by Echo AI
The US Senate has passed a bipartisan Russia sanctions bill that targets the world's largest buyers of Russian oil and gas, including India. The Lindsey O. Graham Sanctioning Russia Act of 2026 aims to cut Moscow's revenues from energy sales by imposing tariffs of up to 100% on imports from the targeted countries. India, Russia's second-largest oil customer, has increased its reliance on Russian crude since the invasion of Ukraine, with imports reaching a record high in July 2026. However, Indian officials have stated that they will not reduce purchases due to long-standing ties with Russia and the need to secure energy supplies.
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