New US Sanctions Bill Gives President Authority to Levied Heavy Duties on Russian-Linked Trade

Congressional leaders have enacted a sweeping sanctions package that grants the President sweeping authority to impose steep tariffs on trade linked to Russia. The Lindsey O. Graham Sanctioning Russia and Iran Act 2026 passed both chambers – the Senate 86‑11 and the House 262‑159 – and now awaits President Donald Trump’s signature.

The law empowers the executive to levy duties of up to 500 % on Russian goods and up to 100 % on imports from countries that rely on Russian oil and gas. It also creates a mechanism for the U.S. trade representative to reassess the list of affected nations every 180 days, with the option to add new targets.

Exemptions may be granted to states whose gas imports from Russia represent under 15 % of Moscow’s total exports and that are actively cutting those purchases, according to statements from Senator Katie Britt’s office.

Key provisions extend sanctions to Russian financial institutions, foreign banks that process significant transactions with them, and companies that enable Russian military logistics. The act also bans new American capital inflows into Russia’s energy sector, restricts the purchase of Russian sovereign bonds, and lengthens the Iran Sanctions Act through 2031.

Supporters argue the measures will erode the economic base of Russia’s war effort, while critics warn of potential misuse of tariff authority for political ends.