A bipartisan coalition of senators released updated sanctions legislation on Tuesday targeting Russia's oil and gas revenue, the product of months of negotiations led by the late Sen. Lindsey Graham (R-S.C.) that reached a breakthrough just before his death. The bill, dubbed the Sanctioning Russia Act 2026, aims to choke off the Kremlin's primary funding source for its war in Ukraine.
Lawmakers from both parties framed the legislation as a fitting tribute to Graham, who died suddenly Saturday night. In his final week, Graham traveled to Ukraine and worked to finalize compromise language, securing buy-in from the Trump administration and Democrats. Sen. Richard Blumenthal (D-Conn.), the original co-sponsor, said, “I’ll start by channeling my inner Lindsey Graham, this is a big effing deal.”
The bill targets Russian profits from oil and gas exports, which account for the bulk of Moscow's revenue. It comes as Ukraine has intensified long-range strikes on Russian energy facilities, compounding economic pressures that have soured public opinion on the war. Blumenthal argued the measure gives both Washington and Kyiv critical leverage in potential peace talks. “Nobody wants this war to continue,” he said.
Senators released the text with 26 initial co-sponsors, evenly split between parties, and expect to quickly reach 60 or more to ensure passage and a veto-proof majority. A 2025 version had over 80 co-sponsors but was blocked by Senate Majority Leader John Thune (R-S.D.) at the White House's request amid negotiations with Russian President Vladimir Putin. Blumenthal said Thune has committed to bringing the bill to the floor once it has enough support. “The quicker the better,” Blumenthal added, “not only as a tribute to Senator Graham, but also because it matters to Ukraine.”
The compromise legislation, described by Blumenthal as “sledgehammer sanctions,” mandates penalties on Russia's political leadership, financial institutions, energy sector, and sanctions evaders. It includes a sliding tariff rate capped at 100% on the top five purchasers of Russian energy, targeting China while potentially affecting European and Asian allies. Countries taking significant steps to reduce Russian gas imports are exempt, a provision expected to shield Europe and Japan.
The bill's finalization came after Graham and Sen. Jeanne Shaheen (D-N.H.) met Treasury Secretary Scott Bessent on the sidelines of the NATO summit in Ankara last week. The talks aimed to balance Democratic concerns over executive tariff authority with White House demands for flexibility. A Senate Democratic aide noted, “This is the only product that currently has buy-in from everybody and likely the only product that is going to move forward and put pressure on Russia.”
The legislation compels the president to impose sanctions within 30 days of passage, making them mandatory—a shift from the 2025 version, which tied sanctions to Russia's refusal to negotiate. The top five purchasers of Russian crude oil include China, India, Slovakia, Hungary, and Azerbaijan; for natural gas, China, France, Japan, Hungary, and Belgium top the list. A European official told The Hill the sanctions reflect “renewed convergence between Europe and the U.S.” following the G7 meeting in Evian.
The bill's momentum underscores a broader bipartisan push to counter Putin's aggression, even as Trump seeks diplomatic engagement. As reported in our earlier coverage, the late senator's final efforts have galvanized Congress. Meanwhile, analysts warn Putin's desperation could lead to new gambits, making swift passage critical.
