Congress Targets Putin’s Oil Lifeline With Tough New Sanctions
Ukraine Drone Attack Hits Major Oil Refinery Deep Inside Russia President Volodymyr Zelensky secured new… RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established.
We provide what many… The US House of Representatives moved to advance a sweeping Russia and Iran sanctions package on August 10, just days after the Senateapprovedit by an overwhelming 86-11 vote, opening the next phase of a congressional push to squeeze Moscow’s war economy and give President Donald Trump additional leverage to force Russia toward negotiations with Ukraine.
The move came unusually quickly -- while the House is in its August recess -- with Republican Representatives Michael McCaul of Texas, Brian Fitzpatrick of Pennsylvania, Democratic Congressman Steny Hoyer of Maryland, and a broad bipartisan group introducing the House companion to the Lindsey O.
Graham Sanctioning Russia and Iran Act of 2026.
The House legislation is identical to the measure passed by the Senate last week.
Thebill, named after the late Senator Lindsey Graham, would target Russian banks, energy revenues, oligarchs, the Kremlin-linked “shadow fleet,” sanctions-evasion networks, and foreign governments and companies helping sustain Moscow’s war against Ukraine.
It would also extend longstanding sanctions against Iran through 2031.
The rapid House move gives supporters a chance to capitalize on the Senate vote’s overwhelming bipartisan margin, but it also sets up a potentially difficult debate over the bill’s tariff provisions and the extent of presidential authority over countries that continue buying Russian energy.
McCaul, a former chairman of the House Foreign Affairs Committee, said he had promised Graham before his death that he would introduce the legislation in the House.
“Senator Graham was a national security giant, a statesman of unmatched conviction, and a personal friend and mentor,” McCaul said, adding that Graham had worked on the legislation for more than a year and had secured White House support.
McCaul said Ukrainian President Volodymyr Zelenskyy told him during a visit to Ukraine last month that he was ready for a cease-fire and negotiations, while Russian President Vladimir Putin continued to refuse to come to the negotiating table.
The Texas Republican said the sanctions would help increase the pressure on Putin and advance what he described as Graham’s vision of an enduring peace.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
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| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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