US Senate advances Graham sanctions bill targeting Russia

The US Senate has moved a sweeping sanctions package targeting Russia a step closer to becoming law after lawmakers overwhelmingly backed a key procedural motion, setting the stage for a final vote later this week.

The legislation, which seeks to significantly tighten economic pressure on Moscow, cleared a cloture vote by 86 votes to 12, allowing the Senate to limit debate and proceed towards final consideration.

According to congressional reporters, the bill could receive its final Senate vote before the end of the week.

Ukrainian President Volodymyr Zelenskyy attended the opening of the Senate proceedings but left the chamber before the vote concluded after thanking senators for their support.

The legislation was originally introduced by Senator Lindsey Graham, who died unexpectedly on July 11.

The revised bill proposes sanctions against senior Russian political and military officials, state-owned enterprises and foreign companies that the United States says support Russia's defence-industrial sector. It would also impose restrictions on the Central Bank of Russia, Sberbank and Gazprombank, while targeting major Russian energy projects, including Yamal LNG, the three Arctic LNG projects and future energy developments in the Arctic.

Lawmakers have also revised one of the bill's most closely watched provisions. Instead of imposing a proposed 500% tariff on imports from countries purchasing Russian energy, the latest version would introduce 100% tariffs on the five largest buyers of Russian oil and natural gas, as well as five countries accused of helping Moscow circumvent Western energy sanctions.

In addition, the legislation would expand sanctions on Russia's so-called "shadow fleet" of oil tankers and tighten existing sanctions against Iran.

If approved by the Senate, the bill would represent one of the most significant expansions of US sanctions on Russia since the start of the war in Ukraine, further increasing pressure on Moscow and entities accused of supporting its economy and military.

By Aghakazim Guliyev