US senators fast-track Russia-Iran sanctions bill targeting oil buyers

Washington,UPDATED: Jul 29, 2026 00:02 IST

A bipartisan group of US senators on Tuesday agreed to fast-track a bill that would allow President Donald Trump to impose sanctions on major purchasers of oil from Russia as well as Iran, a move that could affect countries such as China and India. The legislation would also expand US action against those seen as supporting Russia’s war in Ukraine and against funding for Iran’s energy and weapons sectors.

The bill had earlier focused only on Russia, but Iran was added at Trump’s suggestion. A procedural vote on the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 was scheduled for Tuesday evening. The announcement came on the day of the funeral service for the late Republican Senator Lindsey Graham, who passed away on July 11.

Announcing the agreement, senators from both parties said, "We are proud to announce an agreement on legislation to stop purchasers of Russian oil and gas from fueling Putin's war machine and to continue restricting the Iranian regime's ability to support terrorism and build its nuclear programme." The announcement was made by Democratic senators Jeanne Shaheen and Richard Blumenthal, and Republicans Darline Graham, Katie Britt, Roger Wicker and Jim Risch.

The senators also said, "There is no greater way to honour Senator Lindsey Graham's legacy than to move forward with this bipartisan agreement, and we look forward to today's (Tuesday) vote." Graham’s funeral service was held at the Cathedral in the presence of Ukrainian President Volodymyr Zelenskyy and Israeli Prime Minister Benjamin Netanyahu.

The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 would impose primary and secondary sanctions against Russia and those supporting its war in Ukraine. The sanctions would target Russian officials, oligarchs, their family members, foreign persons, Russian banks and financial institutions, as well as the Russian Shadow Fleet. The legislation would also allow the President to impose targeted tariffs on imported goods from countries that buy most of Russia’s oil or gas and help Russia evade sanctions.

Section 113 of the bill specifically targets the five countries that buy the largest volumes of Russian fuel or help sanctions evasion through shadow fleets, and threatens them with an additional 100 per cent tariff. On Iran, the bill extends the Iran Sanctions Act by five more years, keeping key secondary restrictions in place until 2031. It also limits the new tariff authority to a five-year sunset period so that these powers do not continue without further renewal.

In all, the bipartisan measure seeks to tighten pressure on Russia and Iran, expand tariff powers against major buyers of Russian fuel, and extend restrictions on Iran, with the Senate set to take up the procedural vote on Tuesday evening.

With PTI Inputs

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