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Senate Pushes Russia Sanctions Bill, Trump Backs, Tariffs Slashed

7/18/2026

45 9 Full Breakdown

Summary

Story summary

Senators move the Sanctioning Russia Act of 2026 toward a vote after Lindsey Graham’s death.
The bill cuts tariffs from 500% to 100% and limits them to the five Russian oil-gas buyers.
It mandates sanctions on Russian leaders, energy firms, banks and the shadow fleet within 30 days.
President Donald Trump backs bill, proposes Iran and Hezbollah provisions, noting Senate leaders John Thune and Chuck Schumer urge a vote.

History

Historical Context

After Congress passed the Countering America’s Adversaries Through Sanctions Act in August 2017, the Treasury’s Section 241 report listed 96 Russian billionaires—including Mikhelson and Kaspersky—though inclusion did not itself trigger sanctions. Building on that precedent, the proposed 2026 Sanctioning Russia Act extends the U.S. effort to target Russian energy firms, echoing the earlier push on Moscow’s oil revenue.

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Story summary

Senators move the Sanctioning Russia Act of 2026 toward a vote after Lindsey Graham’s death.
The bill cuts tariffs from 500% to 100% and limits them to the five Russian oil-gas buyers.
It mandates sanctions on Russian leaders, energy firms, banks and the shadow fleet within 30 days.
President Donald Trump backs bill, proposes Iran and Hezbollah provisions, noting Senate leaders John Thune and Chuck Schumer urge a vote.

1 / 2