Story perspectives

Congress Passes Sweeping Sanctions Bill Targeting Iran, Russia, China

8/12/2026

Summary

Trump sanctions Iran

U.S. President Donald Trump announced that Iran is “completely broke” and that sanctions will resume, launching Operation Economic Fury on April 16 to extend sanctions to countries that purchase Iranian oil or use its banks.
Treasury Secretary Scott Bessent said the sanctions have sent Iran’s currency into fall and cut oil loadings to 500,000 barrels per day.
The IMF estimated Iran’s economy shrank 5.4 % while the Iranian government reported 88.6 % inflation.

Summary

Congress Passes Sanctions

Congress passed the sanctions bill 86-11, with Senate voting 86-11 and the House advancing it on Aug 10 in recess.
Act permits tariffs of 500 percent on Russian goods and 100 percent on imports from major energy-buying nations.
Act extends Iran sanctions through 2031 and targets Chinese firms supporting Russia’s defense sector.
Republican and Democratic sponsors back the bill.
The package excludes the $8 billion aid and child-kidnapping sanctions of the Ukraine Support Act.

1 of 2

Trump sanctions Iran

U.S. President Donald Trump announced that Iran is “completely broke” and that sanctions will resume, launching Operation Economic Fury on April 16 to extend sanctions to countries that purchase Iranian oil or use its banks.
Treasury Secretary Scott Bessent said the sanctions have sent Iran’s currency into fall and cut oil loadings to 500,000 barrels per day.
The IMF estimated Iran’s economy shrank 5.4 % while the Iranian government reported 88.6 % inflation.

1 / 2