Trump Signs Russia-Iran Sanctions Law, Allowing Up to 100% Tariffs on Top Importers of Russian Energy

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President Donald Trump signed a sweeping sanctions law targeting Russia and Iran, including a provision allowing tariffs of as much as 100% on the biggest importers of Russian oil and natural gas to pressure Moscow's energy exports.

The White House said on September 18 that Trump had signed the Lindsey O. Graham Russia-Iran Sanctions Act. It said the law authorizes and expands statutory sanctions, tariffs and prohibitions on Russia, and extends existing sanctions on Iran.

The sanctions broadly target Russian government officials, financial institutions, and the energy and defense industries. They also cover the so-called shadow fleet used to transport Russian energy in an effort to evade existing sanctions. The move is intended to stop Russia from funding its war in Ukraine through energy exports.

Under the law, Trump can impose tariffs of as much as 100% on the five countries that import the most Russian crude oil or natural gas. An exception may apply to countries that import less than 15% of Russia's natural gas exports and have taken steps to reduce their reliance on Russian energy.

The law also preserves much of the president's discretion. A statement of administration policy released in July by the White House Office of Management and Budget said the measure gives the president authority to waive sanctions and allows them to be lifted if Russia and Ukraine reach a peace agreement.

The measure also extends sanctions on Iran. It includes a five-year extension of the Iran Sanctions Act, which was enacted in 1996.