Trump Enacts Tariffs on Nations Buying Russian Oil

On September 18, President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law, which empowers the United States to impose tariffs of up to 100% on countries purchasing Russian oil and gas. This legislation, confirmed by the White House, follows its passage through both chambers of Congress.

It specifically targets Russia’s energy and defense sectors, senior officials, financial institutions, and vessels used to evade sanctions. The law allows Trump to impose tariffs on the top five importers of Russian energy products and those facilitating sanctions evasion, with a review every 180 days.

Additionally, it permits tariffs of up to 500% on Russian goods. Major buyers of Russian energy, such as India and China, which imported approximately 1.6 million and 1.1 million barrels per day respectively in August, could face increased costs.

The law poses potential complications for European nations still importing Russian energy, raising concerns about its impact on U.S. allies.