Why In News?
The US House of Representatives passed the Lindsey O. Graham Sanctioning Russia and Iran Act 2026, authorizing US President Donald Trump to impose secondary tariffs of up to 100% on nations purchasing Russian crude oil and natural gas
What is the Lindsey O. Graham Sanctioning Russia and Iran Act?
Sanctions on Russia: Targets Russian leaders, financial institutions, energy entities, and the Shadow Fleet of oil tankers facilitating Russian crude deliveries worldwide.
Sanctions on Iran: Integrates a 5-Year Extension of Iran sanction authorities into a unified secondary sanctions framework targeting energy exports and clearing mechanisms.
Secondary Tariffs: Authorizes secondary tariffs of up to 100% on goods imported from the top five foreign purchasers of Russian crude oil and natural gas, specifically targeting China, India, Brazil, Turkiye, and South Africa.
Presidential Powers: Grants the US President discretionary authority to enforce, adjust, or waive duties based on national security determinations rather than automatic triggers.