Trump signs Russia sanctions bill into law

WASHINGTON: President Donald Trump signed the Sanctioning Russia and Iran Act, which seeks to impose steep levies on Moscow and its top energy buyers such as China and India.

“The president signed into law: H.R. 5334, the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, which authorises and expands statutory sanctions, tariffs, and prohibitions on Russia and extends existing sanctions on Iran,” the White House said.

The legislation targets Russia’s “shadow fleet” and other foreign persons involved in supporting Russian energy production or sanctions evasion, including vessel owners, operators, managers, insurers, and other parties engaged in covered activities.

The Act also authorises President Trump to impose tariffs of up to 100% on countries buying Russian oil and gas, including China and India. The law gives Trump wide discretion over implementation, including which countries face tariffs, the tariff rates imposed, and whether sanctions provisions are waived.

The law comes into effect within 30 days of signing by the President and requires him to impose duties of up to 100% on goods imported from countries that are the top five purchasers of Russian crude oil or natural gas by total volume during the 12 months preceding enactment. A country is exempt from the gas-related duties if its Russian gas imports accounted for less than 15% of Russia’s total exports during the applicable period and it has taken “significant steps” to reduce those imports.