Lindsey O. Graham Sanctioning Russia and Iran Act of 2026

Section 113 puts a duty on everything the United States buys from the five biggest buyers of Russian oil or gas. The rate can reach 100 percent, and the five-country list is redrawn every 180 days.

Section 112 raises the duty on all goods coming from Russia to as much as 500 percent. That covers oil, gas, coal, and metals, and it is charged on top of any tariff those goods already carry.

Division B lets preschool and childcare teachers claim the same write-off K-12 teachers use for supplies they buy themselves. It applies to money spent in tax years starting after December 31, 2025.

Americans cannot buy Russian government debt, and that ban started the day the law was signed. Shares of Russian state-linked firms also come off American stock exchanges within 30 days.

When a person is sanctioned, any U.S. visa they hold is revoked at once, no matter when it was issued. Any other valid entry document they hold is cancelled automatically.

Section 102 lists a Russian oligarch who has not shown opposition to the war as someone the President must sanction. Staying silent about the war is itself a listed basis.

Section 116 applies the fines and prison terms already used in sanctions cases to the bans in sections 102 through 111. Trying to break a ban, or helping someone else break it, counts the same.

Section 101 defines “knowingly” to include what a person should have known. A company that missed the warning signs about a Russian buyer can be sanctioned on that basis.

A bank holding frozen Russian state money owes Russia no interest on it. The law also keeps sanctions off payments on the loans to Ukraine that are repaid from that money.

Section 114 keeps sanctions off winding-down work in Russia for 270 days after the September 18 signing. After that the shelter is gone, and new investment there is already barred at 30 days.

Section 103 sanctions foreign banks that keep doing significant business with Sberbank, VTB, Gazprombank, or Russia's central bank. The Treasury Secretary can spare a bank if hitting it runs against U.S. economic or foreign policy interests.

Section 201 pushes the end date of the 1996 Iran Sanctions Act from 2026 to 2031. That law lets the President sanction firms that invest in Iran's energy industry.

The House passed this in April 2026 as a one-section tax bill for preschool teachers. The Senate replaced the text with the whole Russia and Iran sanctions package, and the tax break survived as Division B.

Section 114 carves out space flight. Nothing in the sanctions title can be read to block Russian parts or services for a launch run for NASA or any customer outside the Defense Department.

Section 203 ends Division A five years after the September 18 signing. The Iran extension in section 201 and the teacher deduction in Division B are not covered and stay on the books.

Before lifting any sanction, restriction, or duty, the President must report to Congress and wait 30 days. The wait is 60 days for a report sent between July 10 and September 7.

Section 102 writes the existing Russia sanctions orders into law as they stood the day before signing, including everyone already listed. Revoking the order no longer ends them.

Section 115 lets the President set aside any sanction, restriction, or duty for a foreign person. He must first tell Congress in writing that doing so serves the national interest and explain the basis.

To stop a lifting, Congress must pass a joint resolution inside the review window. In the Senate that takes 60 of 100 votes, both to take it up and to pass it. If nothing passes, the lifting takes effect.