Key facts
- A bipartisan group of U.S. senators introduced the Sanctioning Russia Act of 2026.
- The bill targets Russia's war finances by imposing sanctions and tariffs.
- It authorizes tariffs of up to 100% on the top five purchasers of Russian oil and natural gas.
- Sanctions will be mandated against Russian President Vladimir Putin, leaders, state-owned enterprises, and companies supporting its defense industry.
- The legislation expands sanctions against Russia's 'shadow fleet' of oil tankers.
- The bill includes provisions for presidential waiver authority with Congressional oversight.
A bipartisan coalition of U.S. senators has introduced an updated sanctions bill, the Sanctioning Russia Act of 2026, designed to target Moscow's war finances and overcome previous legislative hurdles. The bill, spearheaded by the late Senator Lindsey Graham, aims to choke off Russian revenues through a combination of tariffs and mandatory sanctions.
The revised legislation, which has garnered over 26 bipartisan co-sponsors, represents a significant shift from earlier proposals. Instead of a broad 500% tariff on Russian energy buyers, the new bill authorizes tariffs of up to 100% on the top five purchasers of Russian oil and natural gas, including China and India. It also includes exemptions for countries importing less than 15% of Russia's natural gas exports, provided they are reducing their dependence on Russian energy. This approach seeks to maintain pressure on Russia while minimizing unintended economic consequences for U.S. allies.
Beyond tariffs, the bill mandates sanctions within 30 days of enactment against Russian President Vladimir Putin, senior political and military leaders, state-owned enterprises, financial institutions, energy projects, oligarchs, and foreign companies supporting Russia's defense industrial base. It also broadens sanctions against Russia's 'shadow fleet' of aging oil tankers used to circumvent existing restrictions. Notably, the legislation removes language making sanctions contingent on Russia's participation in peace negotiations, making many penalties mandatory.
A key compromise with the Trump administration involved preserving presidential flexibility, granting the president authority to waive sanctions under certain circumstances, with tighter Congressional oversight and justification requirements. President Trump has indicated the legislation has a good chance of passing, though some House Democrats, like Representative Gregory Meeks, have criticized the bill for granting excessive tariff authority to the president rather than mandating automatic sanctions.
Supporters, including Senator Richard Blumenthal, who partnered with Graham on the bill, describe the proposal as imposing 'sledgehammer sanctions' and believe it is crucial for cutting off funding for Russia's war in Ukraine. They express confidence in the bill's passage, despite potential opposition in the House.