Overview
- The Senate cleared a major procedural hurdle with an 84-12 vote on Wednesday to begin consideration after an 86-12 cloture vote on Tuesday, moving the Lindsey O. Graham Sanctioning Russia and Iran Act closer to a final Senate vote.
- The bill authorizes the president to impose tariffs of up to 100% on the five largest purchasers of Russian oil and gas and includes earlier draft language that contemplated even higher penalties, while USTR and waiver rules would set and manage the exact rates.
- President Trump publicly urged adding tariff authority targeting Iran, a proposal that could reopen negotiations over the measure and prompt new amendment fights in the Senate.
- Lawmakers from both parties have warned the tariff powers would give the White House broad unilateral authority that could raise U.S. import costs and strain ties with major trading partners such as India and China, and the House is unlikely to act until it reconvenes in September.
- Supporters say the bill aims to choke off revenue for Russia’s war in Ukraine and extend Iran sanctions, but experts and diplomats caution its effectiveness on Russia’s trading partners is uncertain and the move could trigger diplomatic and market disruptions.