Washington approves new sanctions bill against Russia and Iran
US lawmakers have passed a new bill authorising sanctions, tariffs, and punitive measures against Russia, and expanding existing sanctions on Iran.
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The bill, called “Lindsey O. Graham Sanctioning Russia and Iran Act of 2026”, was signed into law by US President Donald Trump on Friday. It allows Washington to impose trade tariffs of up to 100% on countries doing business with Moscow and Tehran.
The act authorises the US President to impose 100% duty ad valorem on all imported goods from countries among the five largest importers of Russian-origin crude oil, petroleum products or natural gas, “if such country knowingly makes new purchases of such products after enactment of the bill,” the US Congress said in a statement.
The bill prohibits the “export, reexport, or in-country transfer to or in Russia of any U.S.-produced energy or energy product,” the US Congress added.
Namely, Hungary is among the biggest importers of Russian crude oil, followed by China, India and Turkey. These countries risk landing on the US White House's list for trade penalties under the fresh sanctions framework.
The Indian government will work with Indian trade and industry outfits to deal with the implications of developments pertaining to the Lindsey O. Graham Act, its Ministry of External Affairs (MEA) said in a statement.
New Delhi remains committed to safeguard a “balanced and mutually beneficial” economic partnership with Washington, MEA spokesperson Randhir Jaiswal said in a press briefing.
Additionally, Hungary is pursuing US officials not to impose steep tariffs on the central European country – still heavily dependent on Russian crude oil, Bloomberg reported.
The bill also extends the Iran Sanctions Act of 1996 through 2031, allowing the US President to impose sanctions on entities doing business with Iran's energy sector or engaged in Iran's efforts to “acquire or develop certain weapons.”
By Aparupa Mazumder
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