Trump Signs Bill Imposing Up to 100% Tariffs on Major Buyers of Russian Oil and Gas

President Trump signed a bill allowing up to 100% tariffs on major buyers of Russian oil and gas. The White House announced on the same day that President Trump had signed H.R.5334, the 'Lindsey Graham Russia-Iran Sanctions Act.' The White House stated the legislation permits imposing up to 100% tariffs on the top five countries importing Russian oil or natural gas.

Countries importing less than 15% of Russia's total exports in natural gas and taking significant measures to reduce imports may be exempted.