President Donald Trump urged Congress on July 29 to fold tariffs targeting Iran into the Lindsey O. Graham Sanctioning Russia Act, linking two major U.S. foreign policy pressure campaigns in one legislative vehicle. The Russia sanctions bill had already passed the Senate 86-12, making it a faster path for Iran measures that could otherwise move more slowly on their own. The push follows a sharp deterioration in Strait of Hormuz security after a June 17 U.S.-Iran memorandum of understanding meant to guarantee safe commercial passage for 60 days broke down, leading Washington in early July to restore sanctions, revoke Iranian oil export waivers and reinstate naval blockades. About 20% of global oil supply moves through the strait, and the waiver reversal alone drove a short-term oil price jump of more than 5%. Crude has since retreated from the $110 to $126 per barrel seen during the worst disruptions to around $80 for WTI and into the $80 to $85 range for both WTI and Brent in early August 2026, though the article argues the market could reprice quickly if tariff language becomes law or tensions escalate further. It says the strategy reflects a view that pressure on Iran and Russia is complementary because both are major oil producers feeding the same global supply pool, and it flags the congressional timetable for the combined bill as a key near-term indicator for markets.