WASHINGTON: U.S. President Donald Trump has signed a landmark law authorizing the imposition of up to 100% tariffs on imports from countries purchasing large volumes of Russian crude oil and natural gas.
The President signed the bill, titled the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026' (H.R. 5334), at the White House on Friday after it cleared both chambers of the U.S. Congress.
Aimed at cutting off Moscow's energy revenues amid the war in Ukraine, the new law poses a major challenge to top importers of Russian oil, notably India and China.
Key Highlights:
• 100% Tariff Provision: The legislation mandates tariffs of up to 100% on goods imported from the top five purchasers of Russian crude oil or petroleum products over the past 12 months, as well as countries that facilitate sanctions evasion.
• Impact on India and China: As the two largest buyers of discounted Russian crude, both China and India risk facing punitive duties, which could disrupt exports to the U.S. and complicate ongoing bilateral trade negotiations.
• 30-Day Window and Waiver Authority: The provisions take effect within 30 days of signing. However, the law grants the U.S. President discretionary authority to determine the tariff rate and provides for national interest waivers under specified conditions.
• Broad Sanctions on Russia and Iran: Beyond trade measures, the Act targets Russia's energy and defense sectors, shadow tanker fleets, and high-ranking officials, while reauthorizing the Iran Sanctions Act for an additional five years.
• India's Stance: New Delhi has reiterated that energy security and stabilizing domestic markets remain top priorities, maintaining that all necessary measures will be taken to safeguard national economic and trade interests.
Named in honor of the late Republican Senator Lindsey Graham, who passed away in July, the measure previously cleared the Senate by an 86–11 margin and the House of Representatives by 262–159.
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