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Trump Signs Sweeping Russia Sanctions Bill Into Law
US President Donald Trump has signed into law a sweeping sanctions package targeting Russian officials, banks, energy interests and a network of tankers used to transport Russian oil, in the latest US effort to increase economic pressure on Moscow over the war in Ukraine.
The legislation, now known as the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, was signed by Trump on Friday after receiving broad bipartisan support in Congress. It passed the Senate by 86 votes to 11 and the House of Representatives by 262 to 159.
The measure is named after the late Republican Senator Lindsey Graham of South Carolina, who worked on the legislation for more than a year before his unexpected death in July. Graham had been a prominent supporter of stronger economic measures against Russia.
The bill targets Russian officials and financial institutions, as well as the country’s so-called shadow fleet of tankers that has been used to move Russian energy despite existing Western restrictions. The legislation is intended to reduce the revenues available to the Kremlin as the war in Ukraine continues.
A major provision gives the US president authority to impose tariffs of up to 100% on goods from countries that are among the largest purchasers of Russian oil or natural gas. The measure also covers countries that help Russia evade sanctions. Certain countries that have significantly reduced their purchases of Russian energy can qualify for an exception under the legislation.
The expanded tariff powers drew criticism from some Democratic lawmakers. They generally supported stronger measures against Russia but raised concerns that the legislation gives Trump broad authority to impose tariffs on countries beyond Russia’s immediate trading partners.
House Minority Leader Hakeem Jeffries questioned why Congress would give the president what he described as broad authority to impose additional tariffs that could affect the US economy.
The legislation also extends US sanctions provisions targeting Iran for another five years. The Iran measure was a key part of negotiations before the final version received Trump’s approval.
Richard Blumenthal, the Democratic senator who co-drafted the bill with Graham, praised its passage after the House vote and paid tribute to his late colleague.
Graham’s sister, Senator Darline Graham, who was appointed to complete his Senate term, also said he would have been proud of the legislation’s passage.
The signing gives the Trump administration new statutory tools to restrict Russian energy revenues and penalise countries that continue major purchases of Russian oil and gas. Analysts and critics have also pointed to the wider trade implications of the new tariff authority, particularly for countries that maintain significant energy ties with Moscow.
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Iran Says Hormuz Can Reopen Within Seven Days as Oil Exports Come Under Pressure
Iran’s military said it retained full control of the Strait of Hormuz on Monday, while Foreign Minister Abbas Araghchi said the strategic waterway could be fully reopened within seven days if Tehran’s conditions were met and hostile measures against the country were lifted.
The statements came as Iran faced growing economic pressure, with the rial falling to record lows, Oil Minister Mohsen Paknejad resigning and the United States claiming that Tehran had not loaded any crude onto tankers during September.
Brigadier General Aziz Jafari, commander of Iran’s Khatam al-Anbiya Joint Air Defence Headquarters, said all movements through the Strait remained under the control of the Iranian armed forces despite changes in US tactics.
“All movements (in Hormuz) are under the control of the armed forces of the Islamic Republic,” Jafari said.
US Treasury Secretary Scott Bessent said on Thursday that Iran had not loaded crude oil onto tankers during September, arguing that the Trump administration was targeting Tehran’s main source of revenue.
Iranian President Masoud Pezeshkian acknowledged in August that restrictions were disrupting oil exports, saying the country had previously been able to sell oil but was now unable to do so at the same level.
Paknejad’s resignation was officially attributed to family and personal matters. However, his departure came amid speculation about the impact of reduced oil exports on government finances. Before his resignation was announced, Paknejad said in a video carried by Iranian media that revenue from oil already sold would be collected and that the process would continue.
The acting oil minister has pledged to maximise production and maintain exports through new strategies.
Despite pressure on Iranian exports, oil shipments from other parts of the region remained high. Ship-tracking company Kpler estimated crude exports from the region excluding Iran at between 19.5 million and 22.5 million barrels per day during the final week of September, compared with a pre-war regional average of about 18 million barrels per day.
Iran’s currency has also come under severe pressure. The euro rose above 300,000 tomans on the informal market, while the US dollar reached 270,000 tomans, more than double its level of about 135,000 tomans at the beginning of the year. One toman is equal to 10 rials.
The UK Maritime Trade Operations agency reported at least one attack each day in the Strait of Hormuz or the Gulf of Aden since October 2.
Araghchi told foreign ambassadors in Tehran that the conflict could not be resolved militarily and called for negotiations based on fairness. He warned that any renewed military confrontation would trigger a stronger Iranian response.
Parliament Speaker Mohammad Bagher Ghalibaf said Tehran had received US proposals through intermediaries but rejected what he described as one-sided demands.
He said the Strait would remain closed until Iran’s seven conditions, based on the Islamabad memorandum, were met.
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