A bipartisan group of US senators on Tuesday introduced an updated version of the “Sanctioning Russia Act of 2026”, a bill that would impose mandatory sanctions on Russian political and military leaders, financial institutions, and energy companies, while authorising the president to levy tariffs of up to 100% on the five largest purchasers of Russian oil and natural gas. The legislation, finalised shortly before the sudden death of its lead Republican sponsor, Senator Lindsey Graham, on 11 July, is being framed by colleagues as a central part of his legacy. Senate aides confirmed the bill has 26 co-sponsors and that the White House, after months of negotiation, signalled its support last week.

Viewed from Washington, the bill represents a compromise between congressional hawks and an administration that has sought to preserve presidential flexibility. President Donald Trump told reporters there was “a good chance” the bill would pass, but according to sources cited by The New York Times, he continues to object to provisions that would limit his ability to unilaterally suspend or waive sanctions. The revised text grants the president authority to waive tariffs if he deems it in the national interest, a concession that Democratic co-sponsor Senator Richard Blumenthal acknowledged was necessary to secure White House backing. Some Republican senators, however, remain cautious, noting that Trump’s public endorsement has been less than unequivocal and that the bill had previously stalled for want of a clear signal from the president.

The bill’s most novel mechanism—the use of tariffs as a direct geopolitical instrument—has drawn scrutiny from trade analysts in London and Washington. The top five importers of Russian crude oil are currently China, India, Slovakia, Hungary, and Azerbaijan; for natural gas, the list includes China, France, Belgium, Japan, and Hungary. Countries that import less than 15% of Russia’s natural gas exports and are demonstrably reducing those purchases would be exempt, a carve-out designed to shield European allies. Indian officials have consistently defended their energy purchases as driven by domestic economic necessity, and the revised tariff cap of 100%, down from an earlier proposal of 500%, is seen in New Delhi as a partial easing of pressure, though the expiry of a US Treasury waiver in June has already placed Indian imports in a legal grey area.

The bill also targets Russia’s so-called shadow fleet of tankers, its defence-industrial base, and state-backed energy projects such as Yamal LNG, while mandating a ban on imports of Russian uranium. Russian state media have reported the legislation as an attempt to exert “maximum pressure” on Moscow, though the Kremlin has not yet issued an official response. Trump indicated on Tuesday that lawmakers may add sanctions on Iran and Hezbollah to the package, a move that could broaden its appeal but also complicate its path. Senate aides said they expect a vote before the August recess, with House Republicans preparing a companion bill.