The US Senate voted 86-12 on July 28 to advance the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which would authorize President Donald Trump to impose tariffs of up to 200% on the largest purchasers of Russian oil and natural gas. The bill also expands sanctions on Russia's financial institutions, oligarchs and shadow fleet, and extends Iran sanctions through 2031. It still needs final Senate passage and a House vote after the August recess.
The US Senate voted 86-12 on July 28 to advance sweeping legislation aimed at tightening economic pressure on Russia and Iran, one of its strongest bipartisan endorsements of Ukraine since President Donald Trump returned to office. The procedural vote followed a closed-door appeal to senators by Ukrainian President Volodymyr Zelenskyy, who then watched the count from the Senate chamber.
Senators held the vote hours after the funeral of Senator Lindsey Graham of South Carolina, the bill's chief architect. Throughout the evening they framed the measure as a strategic effort to deprive President Vladimir Putin of the revenues financing Russia's war in Ukraine.
What the sanctions bill would do
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 authorizes tariffs of up to 200% on the world's largest purchasers of Russian oil and natural gas. It also widens sanctions on Russia's financial institutions, political elites, oligarchs and the "shadow fleet" used to evade existing restrictions, and extends sanctions on Iran through 2031.
Senators stressed that the text has been narrowed from earlier drafts to avoid penalizing US allies while concentrating pressure on the principal buyers financing the war. Democratic Senator Richard Blumenthal of Connecticut said the measure authorizes — but does not require — the president to impose those tariffs on the five largest purchasers of Russian oil and gas and on the countries most involved in helping Russia evade sanctions.
Blumenthal points to China and India
Blumenthal named the two buyers he considers decisive: "Let's be really blunt: China and India are the main culprits here." He said recent US tariffs on India showed the potential of the approach by contributing to a significant reduction in Indian purchases of Russian oil.
Democratic Senator Jeanne Shaheen of New Hampshire said the bill targets Russia's energy exports and the shadow fleet transporting oil, and identifies China as the largest purchaser of Russian energy. Because of Beijing's support for Moscow, she argued, cutting Russia's revenue carries broader geopolitical implications.
The House decides after the recess
The legislation still faces final Senate passage, and the House is not scheduled to return until after the August recess. Shaheen acknowledged concerns among some House Democrats about the president's tariff authority but argued that many critics remain unfamiliar with revisions made during negotiations.
Republican Senator Jim Risch of Idaho, chairman of the Senate Foreign Relations Committee, said the measure was carefully negotiated with the White House over an extended period. He urged the House to move quickly once the Senate finishes its work.
Source: Oilprice.com
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