Trump signs sweeping Russia sanctions bill

President Donald Trump has signed a comprehensive sanctions bill targeting Russia's economy by penalizing its top oil and gas buyers, particularly China and India. The legislation, named after Senator Lindsey Graham who passed away recently, grants Trump authority to impose tariffs of up to 100% on these nations. The 48-page bill, officially titled the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, also extends sanctions to Iran's energy and weapons sectors.

Exceptions are made for countries importing less than 15% of their natural gas from Russia that are reducing their dependence on Russian energy. The bill imposes sanctions on Russian President Vladimir Putin, key Russian officials, financial institutions, and Russia's "shadow fleet" of tankers. Senator Richard Blumenthal described the bill as "scorching sanctions" aimed at weakening Putin's military capabilities.

Data from the Centre for Research on Energy and Clean Air indicates China received 50% of Russian crude exports between December 2022 and August 2026, while India accounted for 37%. Turkey and the European Union each received 5% during the same period. Senator Graham advocated for stronger penalties against Russia due to its invasion of Ukraine in February 2022, and Ukrainian President Volodymyr Zelensky praised the House of Representatives for passing the bill, noting it occurred on the same night as a Russian missile attack on Ukraine.