Trump Signs Sweeping Sanctions Bill Targeting Russia and Iran
US President Donald Trump has signed the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, a bill imposing tariffs of up to 100% on major buyers of Russian oil and gas, including China and India. The legislation also extends sanctions to Iran’s energy sector and honors late Senator Lindsey Graham.
US President Donald Trump has signed a sweeping legislative package designed to target Russia's economy by penalizing nations that purchase its oil and gas. The new law, formally titled the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, grants the president broad authority to levy tariffs of up to 100% on the top five purchasers of Russian energy exports.
The legislation specifically identifies China and India as primary targets for these potential tariffs. According to data from the Centre for Research on Energy and Clean Air (CREA), China accounted for 50% of Russian crude exports between December 2022 and August 2026, while India represented 37%. Turkey and the European Union each held a 5% share during this period.
Beyond energy tariffs, the 48-page bill imposes direct sanctions on Russian President Vladimir Putin, senior government figures, banks, financial institutions, and Russia's "shadow fleet" of tankers. At Trump's request, the scope of the sanctions was extended to include Iran's energy and weapons sectors.
The act includes specific exceptions for countries importing less than 15% of their natural gas from Russia, provided those nations are actively working to reduce their dependency.
The bill is named in honor of Senator Lindsey Graham, who died on July 11 at age 71 from an aortic dissection caused by cardiovascular disease shortly after returning from Kyiv. Ukrainian President Volodymyr Zelensky thanked Trump for signing the legislation, urging full and swift implementation to honor Senator Graham's memory.