Geopolitics

The revised Sanctioning Russia Act of 2025 reduces the secondary tariff on top Russian energy buyers from 500 percent to 100 percent and restricts its application to the five largest importers, primarily China and India, which together account for roughly 85 percent of Russian crude exports. A new presidential waiver allows the tariff to be suspended if a covered country is reducing Russian energy purchases or if suspension serves U.S. national interest. The White House endorsed the revised text on July 10, 2026, clearing the bill's main political obstacle ahead of a Senate Banking Committee markup.