Senate Passes Sweeping Bill Imposing 200% Tariffs on Russian Energy Exports

The US Senate has passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, a sweeping bill that imposes economic pressure on Moscow. The legislation cleared the 60-vote threshold with an 86-12 vote, marking one of the most aggressive campaigns against Russia since the war in Ukraine began.

The centerpiece of the bill is a tariff mechanism that can reach 200% on the largest buyers of Russian oil and natural gas. China and India are among the countries most exposed to these tariffs, having absorbed the bulk of Russian energy exports since Western buyers stepped back following the 2022 invasion.

Beyond energy, the bill targets Russia's financial institutions, political elites, and oligarchs. It also extends existing US sanctions on Iran through 2031, reflecting Congress' view that the Russia-Iran military relationship is durable enough to warrant locking in the sanctions framework for another five years.