Overview
- The Senate approved the Lindsey O. Graham Sanctioning Russia and Iran Act by a large bipartisan margin, with final votes reported on August 7, 2026, and sent the measure to the House for consideration.
- The package pairs mandatory sanctions on Russian officials, oligarchs, banks, state energy firms and the ‘shadow fleet’ of tankers with a new trade tool that lets the U.S. Trade Representative set tariffs from 0 to 100 percent on the five biggest importers of Russian crude or gas.
- Efforts on the Senate floor to remove or narrow the 100 percent tariff authority failed, and Sen. Raphael Warnock lifted his hold after receiving a written commitment from USTR Jamieson Greer that tariffs would end if a country no longer qualified as a top buyer or sanctions facilitator.
- The bill includes a presidential waiver mechanism, exemptions for smaller importers, a five-year sunset on most Russia authorities and an extension of Iran-related sanctions through 2031, leaving implementation details and legal challenges to shape real-world effects.
- Lawmakers and analysts warn the tariff power could strain relations with major buyers such as China and India and raise costs for U.S. importers and consumers, while supporters say the tool is needed to reduce Moscow’s war revenue and pressure Putin.