Trump Signs Russia-Iran Sanctions Law Targeting Energy Imports with Up to 100% Tariffs

US President Donald Trump has signed a sweeping sanctions bill targeting Russia and Iran, enabling maximum 100% tariffs on major oil and natural gas importers to pressure Russian energy exports. The White House announced on July 18 (local time) that Trump signed the 'Lindsey O. Graham Russia-Iran Sanctions Act,' stating it approves and expands legal sanctions, tariffs, and prohibitions against Russia while extending existing Iran sanctions.

The sanctions broadly target Russian government officials, financial institutions, energy, and defense sectors, including so-called 'shadow fleets' circumventing existing sanctions to transport Russian energy. The measure aims to block funds Russia uses for the Ukraine war through energy exports. Major oil and gas importers from the top five countries importing the most Russian energy can face up to 100% tariffs, though nations importing less than 15% of Russian gas exports and reducing reliance on Russian energy may qualify for exemptions.

The President retains significant discretion under the law, with the White House Office of Management and Budget (OMB) noting in a July policy statement that the bill grants presidential authority to waive sanctions and lift them if Russia and Ukraine reach a peace agreement. Iran sanctions were also extended, with the 1996 'Iran Sanctions Act' renewed for an additional five years.