Trump signs sweeping Russia sanctions law targeting officials, banks and energy trade

  • President Donald Trump signed a law expanding sanctions and tariffs against Russia and extending Iran measures.
  • The law authorizes tariffs of up to 100% on major buyers of Russian energy.
  • India imports more than 90% of its crude, with Russia supplying roughly half during summer.

President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 on Sept. 18, expanding sanctions, tariffs and prohibitions against Russia while extending existing measures on Iran. The law targets Russian officials, banks, the energy sector and a shadow fleet of tankers, and gives the president authority to impose tariffs of up to 100% on major buyers of Russian oil or natural gas and countries accused of helping Moscow evade sanctions. Its broad discretion creates uncertainty for India, which imports more than 90% of its crude and obtained roughly half of its summer imports from Russia, according to Kpler. Indian officials have called the tariff threat unfair and said New Delhi will continue sourcing commercially viable and economical energy while maintaining an independent foreign policy. The measure follows earlier U.S. tariff pressure, temporary waivers during Middle Eastern supply disruptions and India’s efforts to diversify trade and energy supplies. It also includes exceptions for some natural-gas, civilian nuclear and medical-isotope transactions, while Russia remains a major supplier of enrichment services to U.S. nuclear operators.

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