The New Sanctioning Russia Act: Optics for Now, Leverage for Later
On September 18, Congress passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which targets Russia's energy revenues and threatens tariffs against the largest purchasers of Russian oil and gas. Section 113 authorizes tariffs of up to 100 percent on major purchasers of Russian oil and gas and on countries facilitating sanctions evasion, while section 115 gives the president broad waiver authority. The text states that India, the second-largest buyer of Russian energy after China, may be the more plausible early target because the relationship remains negotiable.
Why it matters: The tariff-and-waiver architecture of the law is presented as the formalization of a new model of economic statecraft, in which tariffs are used alongside sanctions as instruments of geopolitical leverage.