Commodities
US Senate Backs Bill Targeting Countries Buying Russian Oil
A bipartisan US Senate bill aims to fast-track sanctions on major purchasers of Russian and Iranian oil, potentially impacting global energy trade and countries like India and China.
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 targets countries that buy the vast majority of Russian oil or gas, enabling Russian sanctions evasion.
Sanctions include potential 100% tariffs on goods from countries allowing this behavior, which would severely impact trade.