A bipartisan group of US House lawmakers has introduced sweeping legislation targeting Russia’s energy revenues, banks and sanctions-evasion networks, moving quickly to capitalize on an overwhelming 86–11 Senate vote last week.
Republican Rep. Michael McCaul of Texas and Democratic Rep. Steny Hoyer of Maryland introduced the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 on Monday alongside 16 lawmakers from both parties – even as the House remains in its August recess.
The House bill is identical to the version passed by the Senate, significantly increasing the chances that Congress could send the package to President Donald Trump without another prolonged round of negotiations between the two chambers.
The legislation would strike at some of the Kremlin’s most important sources of wartime financing, including Russian oil and gas revenues, major financial institutions, oligarchs, defense-linked businesses, and the “shadow fleet” used to move Russian energy around existing Western sanctions.
It would also target foreign governments, financial institutions and companies helping Moscow sustain its full-scale invasion of Ukraine.
McCaul said the legislation was intended to increase the economic cost of Russian President Vladimir Putin’s refusal to end the war.
The Texas Republican said Zelensky told him during a visit to Ukraine last month that Kyiv was ready for a ceasefire and negotiations, while Putin continued to resist efforts to end the war, RFE/RL reported.
Up to 500% tariffs on Russian goods
Among the legislation’s most powerful provisions is authority for the president to impose tariffs of up to 500% on goods imported directly from Russia, including oil, natural gas, petroleum products, and coal.
The duties would come on top of other existing US tariffs and charges.
The bill would also authorize tariffs of up to 100% on imports from countries that continue providing Moscow with major energy revenues or help Russia evade oil sanctions.
The provision applies to countries ranked among the five largest importers of Russian crude oil or natural gas, as well as the five leading countries facilitating Russian oil sanctions evasion.