Trump signs sweeping Russia sanctions bill

US President Donald Trump has signed the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, passed by the House earlier this week, giving him broad powers to levy tariffs of up to 100% on the top five purchasers of Russian oil and gas, most significantly China and India. Data from CREA shows China accounted for 50% of Russian crude exports between December 2022 and August 2026, and India 37%. The bill also sanctions Vladimir Putin, senior Russian officials, banks and Russia's "shadow fleet" of tankers, extends to Iran's energy and weapons sectors, and exempts countries importing less than 15% of their natural gas from Russia. It is named after the late Senator Lindsey Graham, who died on 11 July.