The US Senate moved decisively on July 28, 2026, passing a major procedural vote on the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, clearing the 60-vote threshold by a wide margin at 86 to 12. The legislation represents one of the most aggressive economic pressure campaigns the US has mounted against Russia since the war in Ukraine began. Ukrainian President Volodymyr Zelenskyy was present in the chamber for the vote, calling the bill “very important” for signaling continued American commitment to Europe and Ukraine. What the bill actually does The centerpiece of the legislation is a tariff mechanism that can reach 200% on the largest buyers of Russian oil and natural gas. The countries most exposed are China and India, which have together absorbed the bulk of Russian energy exports since Western buyers stepped back following the 2022 invasion. Beyond energy, the bill targets Russia’s financial institutions, political elites, and oligarchs. The legislation also extends existing US sanctions on Iran through 2031. The rationale is direct: Iran has been supplying Russia with military technology and drones used in the conflict, and Congress wants the sanctions architectu...
Senate approves sweeping Russia sanctions bill with 86-12 vote
1 month ago
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The CLARITY Act won’t move markets. It will move people.
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