Lindsey O. Graham Sanctioning Russia and Iran Act of 2026
Sponsored By: Representative McCaul, Michael T. [R-TX-10]
Introduced
Summary
Broad, recurring sanctions and trade penalties on Russia. This bill would create a sanctions regime that targets Russian government officials, banks, the defense industrial base, energy and transportation sectors, and specific vessels. It would also ban new U.S. investment in Russia, bar purchases of Russian sovereign debt, and allow steep ad valorem duties while extending the Iran Sanctions Act to 2031.
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- U.S. financial sector and firms: Would bar transactions with the Central Bank of the Russian Federation and named state banks 30 days after enactment and restrict correspondent and payable-through accounts, while authorizing blocking of property and additional CAATSA measures.
- Trade, energy, and investors: Would prohibit new U.S. investment in Russia, ban purchases of Russian sovereign debt, bar imports of Russian uranium, and permit ad valorem duties up to 500% on Russian imports.
- Sanctions process and exceptions: Would require presidential reviews every 180 days, allow designations for persons and vessels that aid Russia's military or undermine Ukraine, authorize penalties under the International Emergency Economic Powers Act, and include humanitarian, NASA, transit oil, and a 270-day wind-down exception.
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 0 benefits, 3 costs, 1 mixed.
Ban U.S. investment and energy ties with Russia
If enacted, U.S. persons would be barred from new investment in the Russian Federation starting 30 days after enactment. The bill would also ban new U.S. investment specifically in Russia's energy sector and bar export or in-country transfer of U.S.-produced energy to Russia starting 30 days after enactment. The President would be required to sanction foreign persons who knowingly help expand or maintain Russian energy production. The Treasury and State Departments would identify categories of services covered by the investment and service bans.
Big new tariffs on Russian oil and goods
If enacted, the President would raise duties on all imports from Russia to rates up to 500 percent within 30 days. The bill would also require duties up to 100 percent on goods imported from certain countries that buy Russian crude oil or gas, with country lists updated every 180 days. A narrow exception exists for countries whose Russian gas imports were under 15 percent and that reduce imports. These duties would be layered on top of any other existing tariffs and charges.
Cut Russia off from U.S. banking and markets
If enacted, the bill would require sanctions on Russia's central bank and major state banks and bar U.S. persons from transactions with them starting 30 days after enactment. U.S. persons would be banned from buying Russian sovereign debt upon enactment. The SEC would have to stop trading securities of issuers controlled by the Russian government within 30 days. Depository institutions and SEC-registered brokers would also be barred from processing fund transfers to or from the Russian government starting 30 days after enactment. The bill clarifies that financial institutions holding immobilized Russian sovereign assets would not have to return interest earned on those assets.
How U.S. sanctions would work and expire
If enacted, the bill would set recurring sanction reviews and designation cycles (many every 180 days) and let the President use IEEPA penalties to enforce them. It would add Title I definitions and let the President treat allied sanctions as evidence about vessel activity. The bill creates humanitarian and narrow exceptions for food, medicine, some nuclear items, NASA space purchases, and a 270-day wind-down for some operations. It also allows presidential waivers with a written national-interest report, preserves existing Executive Order sanctions, requires a five-year sunset for most of the Act, and extends the Iran Sanctions Act date to 2031. The President could end sanctions only after submitting required certifications to Congress, with a 30-day (or special 60-day) review window.
Sponsors & CoSponsors
Sponsor
McCaul, Michael T. [R-TX-10]
TX • R
Cosponsors
Hoyer
MD • D
Sponsored 8/10/2026
Rep. Wilson, Joe [R-SC-2]
SC • R
Sponsored 8/10/2026
Rep. Kaptur, Marcy [D-OH-9]
OH • D
Sponsored 8/10/2026
Rep. Bacon, Don [R-NE-2]
NE • R
Sponsored 8/10/2026
Rep. Auchincloss, Jake [D-MA-4]
MA • D
Sponsored 8/10/2026
Rep. Rogers, Mike D. [R-AL-3]
AL • R
Sponsored 8/10/2026
Rep. Tokuda, Jill N. [D-HI-2]
HI • D
Sponsored 8/10/2026
Rep. Turner, Michael R. [R-OH-10]
OH • R
Sponsored 8/10/2026
Rep. Vasquez, Gabe [D-NM-2]
NM • D
Sponsored 8/10/2026
Rep. Wagner, Ann [R-MO-2]
MO • R
Sponsored 8/10/2026
Rep. Gottheimer, Josh [D-NJ-5]
NJ • D
Sponsored 8/10/2026
Rep. Barr, Andy [R-KY-6]
KY • R
Sponsored 8/10/2026
Rep. Case, Ed [D-HI-1]
HI • D
Sponsored 8/10/2026
Rep. Fitzpatrick, Brian K. [R-PA-1]
PA • R
Sponsored 8/10/2026
Rep. Vindman, Eugene Simon [D-VA-7]
VA • D
Sponsored 8/10/2026
Rep. Moran, Nathaniel [R-TX-1]
TX • R
Sponsored 8/10/2026
Rep. Houlahan, Chrissy [D-PA-6]
PA • D
Sponsored 8/10/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov