Congress Sends Trump Sweeping Russia Sanctions, Iran Extension

Congress passed and presented to President Trump the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which imposes new penalties on officials and entities from Russia, restricts investment and trade tied to that nation, and extends a 1996 Iran measure through 2031.

The bill requires the President to impose visa- and property-blocking sanctions on specified Russian individuals and entities, including the Russian President and certain military commanders. It also requires tariffs of up to 100 percent ad valorem on all goods from countries that were among the five largest importers of Russian-origin crude oil or natural gas in the year before enactment. The tariff applies if the country knowingly makes new purchases on or after the 30th day following enactment.

The bill prohibits the export or transfer of U.S.-produced energy or energy products to Russia, bars U.S. persons from making new investments in Russia or purchasing Russian sovereign debt, and prohibits trading the securities of Russian government-owned or -affiliated entities on U.S. national securities exchanges.

Separately, the bill extends the Iran Sanctions Act of 1996 through 2031, continuing the requirement that the U.S. President sanction persons engaged in specified transactions tied to Iran's energy sector or weapons development.