US President Donald Trump signed the Sanctioning Russia and Iran Act on Wednesday. The Act authorises Trump to impose steep tariffs of up to 100 per cent on countries, including China and India, buying Russian oil and gas. The Act seeks to impose steep levies on Moscow and its top energy buyers such as China and India. “On Friday, September 18, 2026, the President signed into law: H.R.5334, the “Lindsey O.Graham Sanctioning Russia and Iran Act of 2026,” which authorises and expands statutory sanctions, tariffs, and prohibitions on Russia and extends existing sanctions on Iran,” the White House said.
The law gives Trump wide discretion over implementation, including which countries face tariffs, the tariff rates imposed, and whether sanctions provisions are waived.
This is a developing story.