Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 (H.R. 5334, Pub. L. 119th Congress) signed into law

Mechanism

This is enabling legislation, not a self-executing tariff or sanctions order: it hands the President discretionary authority rather than triggering the 500%/100% tariffs automatically on signature. Three distinct levers, per the enrolled bill text and GovTrack's plain-language summary:

• 500% tariff on all US imports of Russian-origin goods.
• Up to 100% tariff on imports from the top five countries by volume of Russian

oil/natural-gas purchases (unnamed in the statute — determined by Treasury/USTR designation once triggered).

• Up to 100% tariff on the top five countries judged to be materially supporting

Russia's oil "shadow fleet" (unnamed in the statute, same designation mechanism).

• Parallel sanctions on Russian banks, broader Russian financial-system access, and

shadow-fleet vessels.

• Extends the Iran Sanctions Act of 1996 through 2031.

The President can decline the whole package by certifying to Congress that non-use serves US national interests, or terminate it outright if Russia enters a durable peace agreement with Ukraine. The authority sunsets five years after enactment (18 September 2031) absent further action.

Downstream implications

• No tariff or sanction is yet in force under this Act as of filing — severity here

reflects a large discretionary authority newly on the books, not an active measure. Re-file as an amendment (stage, tariff_rate_pct override) the moment the Administration actually designates target countries or certifies non-use.

• Because the "top five" country lists are undetermined, any company whose supply

chain runs through a Russian-oil-importing or shadow-fleet-adjacent jurisdiction carries contingent exposure that cannot be scored precisely until designation.

• This is separate from, and layers on top of, the existing OFAC/BIS Russia sanctions

architecture (western-russia-sanctions theme) and the US Iran maximum-pressure architecture (us-iran-maximum-pressure theme) — it is Congress converting executive-branch sanctions practice into statute with an extreme tariff ceiling attached.

Open questions

• Has the Administration issued the implementing designation naming the "top five"

countries in either category?

• Has the President invoked the national-interest waiver, and if so, on what basis?