The US Senate voted 86 to 12 on July 28, 2026, to advance the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The bill threatens tariffs up to 200% on the largest buyers of Russian oil and gas, with China and India facing the heaviest exposure, and it also extends existing US sanctions on Iran through 2031.
The US Senate passed a procedural vote 86 to 12 on July 28, 2026, clearing the 60-vote threshold by a wide margin to advance the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. Ukrainian President Volodymyr Zelenskyy attended the vote in the chamber, and according to Crypto Briefing he called the bill "very important" for signaling continued American commitment to Europe and Ukraine.
Tariffs target Russia's biggest oil buyers
A tariff mechanism at the bill's centerpiece can reach 200% on the largest buyers of Russian oil and natural gas. China and India are the most exposed, since they have together absorbed the bulk of Russian energy exports since Western buyers stepped back following the 2022 invasion. Beyond energy, the bill also targets Russia's financial institutions, political elites, and oligarchs.
Iran sanctions extended through 2031
Congress also extends existing US sanctions on Iran through 2031, because Iran has been supplying Russia with military technology and drones used in the war. More than 80 senators co-sponsored related versions of the bill before the vote, drawing bipartisan backing as well as support from President Trump.
Named for Graham, aimed at India's crude purchases
Senator Lindsey Graham, who died in July 2026, gives the bill its name after years spent pushing Congress toward sustained economic pressure on Moscow. India has been buying discounted Russian crude since 2022, which has helped Moscow partially offset revenue lost to Western sanctions. A 200% tariff threat changes that calculus significantly, and the bill now moves toward a final Senate vote, after which it would need House action and a presidential signature to become law.
Source: Crypto Briefing
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