President Donald Trump posted on Truth Social urging Republican lawmakers to fold Iran into a bipartisan sanctions bill originally designed to punish countries buying Russian energy. The bill, which already contemplates tariffs as high as 500% on imports from nations that purchase Russian oil and gas, would gain significantly sharper teeth if Iran is added to the target list.
The Senate is reportedly preparing to vote on the legislation as early as this coming week. For anyone holding risk assets, from equities to crypto, the timing matters.
What the sanctions bill actually does
The legislation traces back to the late Senator Lindsey Graham, who co-authored it with Senator Richard Blumenthal. In its original form, the bill was straightforward if aggressive: any country that continues importing Russian energy would face potential tariffs of up to 500% on their goods entering the US.
Trump had previously endorsed the bill after a January 2026 meeting with Graham. His latest move pushes the scope further by arguing Iran should be included in the same legislative framework, effectively turning a Russia-focused sanctions package into a broader tool against multiple US adversaries simultaneously.
