US House takes up Graham sanctions bill targeting Russia’s oil money and shadow fleet
Lawmakers moved during recess, and the House text is word-for-word identical to the bill the Senate already passed 86-11.
The US House of Representatives has introduced a bill, the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, that aims to target Russia's oil revenue and shadow fleet as part of a broader sanctions package. This move comes shortly after the Senate passed the bill during the summer recess. If the House also approves the measure, the president will be granted authority to impose tariffs of up to 100% on the largest buyers of Russian crude and gas, primarily China and India.
The bill also seeks to blacklist Russia's aging tankers, which transport sanctioned oil around Western restrictions. The targeted oil revenue is a key source of funding for Russia's war on Ukraine, as Ukrainian counterattacks have significantly damaged Russian refining capacity. The package encompasses primary and secondary sanctions on Russian officials, oligarchs, entities supporting Russia's defense-industrial base, and foreign actors aiding Moscow's military operations.
It targets major banks and financial institutions with substantial business dealings with Russia and focuses on the shadow fleet and sanctions-evasion networks. The tariff framework, which can reach up to 100% on the top five buyers of Russian oil and gas, replaces a previous proposal for a blanket 500% tariff. The bill also extends the Iran Sanctions Act of 1996 to cover Iran.
These sanctions could only be lifted if the president certifies to Congress that Russia has signed a peace deal accepted by an independent Ukrainian government and halted its military actions against Kyiv.
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