New bill would impose sweeping sanctions and tariffs on Russia
In committeeS. 5025Latest action
Sponsor: Darline Graham · Senator · SC
AIDecoded by AI · checked against the recordRead the official text
Official title: Lindsey O. Graham Sanctioning Russia Act of 2026
119th Congress
Topics: Security & foreign affairs
Introduced:
Read the official bill on Congress.govIn plain words
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The bill would sanction Russian officials, banks, and energy firms, and impose tariffs up to 500% on Russian goods.
50-second read · 4 questions answered below
What does this do?
The bill requires sanctions on top Russian officials, major state banks, and defense or energy companies, and bars Americans from investing in Russia or trading Russian stocks and debt. It bans imports of Russian uranium and energy, imposes tariffs up to 500% on Russian goods, and raises tariffs up to 100% on countries that keep buying Russian oil or gas or help Russia evade sanctions. It also targets tanker "shadow fleets" and the banks, insurers, and ports that support them, with exceptions for humanitarian aid, nuclear cooperation, and NASA activities.
Who does it affect?
Large financial institutions, energy and oil companies, shipping firms, and international traders would face new compliance requirements. Countries that buy Russian oil or gas could face new U.S. tariffs.
Why does it matter?
The restrictions could raise costs for global energy and trade markets, potentially affecting U.S. consumers indirectly, and could strain diplomatic relations with countries that continue trading with Russia.
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Where does it stand?
- IntroducedJul 16, 2026
- Senate committeeYou are here · Jul 16, 2026
- Senate vote
- House
- The president's desk
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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How it's being covered
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globalresearch.ca
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jns.org
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zerohedge.com
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