US President Donald Trump has signed into law a measure that gives his administration the power to impose tariffs of up to 100% on countries buying Russian oil and gas, potentially exposing major buyers such as India and China to higher duties on their exports to the US.
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, signed on Friday, also expands sanctions on Russia's energy and defence sectors and targets its so-called “shadow fleet” and other entities involved in sanctions evasion. The law comes into effect within 30 days.
