The U.S. Senate has passed a bill that could allow President Donald Trump to impose 100% tariffs on countries that are among the biggest buyers of Russian oil and gas, including India and China. The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 also targets Russian officials, oligarchs and financial institutions, while extending Iran sanctions until 2031. The bill now moves to the House of Representatives.

US Senate approves tariffs on India over Russian oil purchases. Crude oil reaching a new all-time high by December 31 at 11.5% YES.

The US Senate on Friday passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, a sweeping bipartisan sanctions package aimed at tightening economic pressure on…