US Relaxes Tax Plan for Countries Importing Russian Energy

The US Congress is reducing the upper limit of secondary customs duties on the top five importers of Russian oil and gas from 500% to 100%. The proposal also includes strict restrictions on the Russian financial sector and nuclear industry. According to Washington's assessment, the first five countries that help circumvent sanctions will also be among the targeted ones. However, there is a special exception for natural gas buyers: if a country's share of the relevant purchase is below 15% of Russia's total annual gas exports and it takes "significant steps" to reduce its purchases, the country may not be subject to the additional tax. On the other hand, the idea of imposing customs duties of up to 500% on all direct imports from Russia to the US remains in the proposal. The text includes comprehensive financial sanctions against the Central Bank of Russia, Sberbank, VTB, and Gazprombank.