The United States Senate has passed a bill that empowers President Trump to impose tariffs of up to 100% on the world's top five buyers of Russian oil or gas. This includes countries such as India, China, and Turkey. The legislation also targets nations assisting Russia in evading energy sanctions, Russian banks, officials, and oligarchs, along with their shadow fleets of tankers. The bill, named the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, was approved by a large margin of 86-11 votes. If passed in the House, President Trump would have the authority to impose these tariffs. The new tariff policy could be seen as an extension of Trump's existing tariff menu, which includes reciprocal tariffs, national security tariffs, sectoral tariffs, country tariffs, and more. However, this particular bill is unique because it allows the U.S. to punish countries not for what they sell to America but for whom they buy energy from. This new legislation has raised questions, as India had already faced tariffs for purchasing Russian oil in August 2025, only to have them removed after negotiations in February 2026. The bill gives the president discretion over the application of these tariffs and includes national-interest waiver provisions and exemptions. Allies and partners can qualify for exemptions by taking steps to reduce their dependence on Russian energy. India, with its growing reliance on Russian oil, could face significant challenges if these tariffs are implemented. The bill's passage is particularly intriguing given the U.S.'s inconsistent record with tariffs. Tariffs have been threatened, imposed, negotiated down, exempted, replaced, revoked, and reinstated through different statutory authorities. The distinction lies in the fact that this bill would give Congress a statutory framework for imposing punitive tariffs on major Russian-energy customers, making it less of an executive improvisation and more of a congressional authorization for economic coercion. However, the impact of these tariffs could be felt by American importers first, with much of the cost potentially passed along to consumers or absorbed partly by suppliers and companies. The Federal Reserve has reported that existing tariffs have raised core-goods prices by 3.1% and could ultimately increase the U.S. consumer price level by about 0.7%, costing the average household roughly $1,100 a year. President Trump's claims of collecting billions in tariff revenue may be overshadowed by the billions Americans pay for imported goods and inputs as a result.