The US House introduced its companion to the Senate's Russia and Iran sanctions package on August 10, days after the Senate passed the measure 86-11. The bill could authorize tariffs of up to 500% on Russian goods and up to 100% on goods from major buyers of Russian oil and gas, and it extends the Iran Sanctions Act through 2031.
The US House of Representatives moved on August 10 to advance the House companion to the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The move came just days after the Senate approved the measure by an 86-11 vote. Republican Representatives Michael McCaul and Brian Fitzpatrick and Democratic Congressman Steny Hoyer led a bipartisan group introducing the identical House version while the chamber is in its August recess.
Tariffs of up to 500% on the table
The bill's most powerful and potentially most contentious provision would let President Donald Trump impose tariffs of up to 500% on Russian goods and targeted duties of up to 100% on goods from countries that rank among the largest buyers of Russian crude oil or natural gas, or that facilitate sanctions evasion. Hoyer said negotiations could still continue over the scope of that tariff authority, pointing to a proposal that would limit it to eight nations whose imports help finance Russia's war.
Fitzpatrick said the legislation attacks what he described as the three foundations of Putin's war machine. According to him: "oil, money, and the willingness of others to look the other way."
Beyond tariffs, the package targets Russian banks, oligarchs, the Kremlin-linked shadow fleet, and foreign financial institutions transacting with sanctioned Russian banks. It would also bar new US investment in Russia, restrict investment in its energy sector, and prohibit purchases of Russian sovereign debt.
Iran sanctions extended, Ukraine aid left out
The bill would also extend the Iran Sanctions Act of 1996 through 2031, preserving sanctions authority over Tehran's energy and weapons sectors, and would target Chinese entities supporting Russia's defense-industrial base. Hoyer noted the package does not include several items from the Ukraine Support Act, including $8 billion in military and reconstruction assistance and sanctions tied to the abduction of Ukrainian children into Russia.
Notably, the legislation would let the president lift the sanctions only after certifying to Congress that Russia signed a peace deal accepted by Ukraine and ended hostilities aimed at undermining Kyiv's government. Senior House aides told RFE/RL the challenge now is preserving the bipartisan coalition behind the Senate vote without reopening the package to changes that could stall it.
Source: OilPrice.com
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