Trump signs Russia sanctions bill championed by Lindsey Graham

September 18, 2026 / 6:01 PM EDT / CBS News

Washington — President Trump signed a sweeping bill Friday to sanction Russia and threaten tariffs on its largest energy customers, legislation championed by the late Republican Sen. Lindsey Graham.

The House passed the bill with bipartisan support earlier this week. The Senate passed it in August, although a number of Democrats expressed concern that it would expand the president's tariff authority.

The new law, the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, lets the president impose tariffs of up to 100% on the five largest purchasers of Russian oil and natural gas. It also sanctions Russian President Vladimir Putin, who started Russia's war with Ukraine, as well as his government officials, oligarchs and Russian banks and financial institutions.

When it comes to foreign countries, the bill would have the most impact on China and India, the largest purchasers of Russian crude oil. Mr. Trump is set to meet with Xi Jinping at the White House on Sept. 24.

The bill also extends sanctions on Iran's energy and weapons sectors.

The global oil crunch due to the U.S. war with Iran initially benefited Russia. Toward the beginning of…

Original source: https://www.cbsnews.com/moneywatch/