A bipartisan group of U.S. senators announced on July 28 an agreement to advance major sanctions legislation aimed at holding purchasers of Russian oil and gas accountable for supporting Russia’s war in Ukraine, while also extending restrictions on funding for Iran’s energy and weapons sectors. The announcement was made by Senators Jim Risch, chairman of the Senate Foreign Relations Committee, Richard Blumenthal, Darline Graham, Katie Britt, Jeanne Shaheen, and Roger Wicker.
“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 program,” the senators said. “There is no greater way to honor Senator Graham’s legacy than to move forward with this bipartisan agreement, and we look forward to today’s vote.”
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 would impose both primary and secondary sanctions against Russia as well as actors supporting its war in Ukraine. Targets include Russian officials, oligarchs, their family members, foreign persons involved with Russia’s efforts in Ukraine, Russian banks and financial institutions, along with entities operating what is referred to as the Russian Shadow Fleet.
The proposed legislation grants authority for the President to levy targeted tariffs on imported goods from countries that purchase most of their oil or gas from Russia or facilitate evasion of Russian sanctions. These tariffs are limited specifically to the five largest importers of Russian crude oil or gas as well as the top five countries aiding in evasion efforts.
Additionally, a provision is included in the bill designed to prevent any lapse in sanction authority that restricts funding for Iran’s energy sector or weapons programs. A vote on whether to proceed with consideration of this act was scheduled for later that evening.
The Senate Foreign Relations Committee develops U.S. foreign policy through treaty examination and legislative review; it has played key roles throughout history such as supporting measures like the Truman Doctrine in 1947 while also rejecting agreements like the Treaty of Versailles in 1919, according to its official website. The committee was established in 1816 as one of the original standing committees within Congress.