Bill > HR5334

This bill, titled the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, implements sweeping economic, financial, and trade sanctions against the Russian Federation to penalize its government and restrict its war efforts, while also extending existing sanctions on Iran through 2031 and expanding a federal tax deduction for out-of-pocket classroom expenses to include early-childhood educators. Specifically regarding Russia, the legislation mandates asset freezes and travel bans on top Russian officials, oligarchs, and defense-sector actors; cuts off major Russian financial institutions from the U.S. financial system and prohibits Americans from investing in Russia or purchasing Russian sovereign debt; bans the import of Russian energy, uranium, and goods while imposing steep punitive import duties of up to 500 percent; and places secondary tariffs of up to 100 percent on foreign countries that continue purchasing large volumes of Russian crude oil or natural gas or that help Russia evade existing sanctions. Furthermore, the bill includes standard humanitarian, intelligence, and diplomatic exceptions, establishes a strict congressional review process requiring a joint resolution of disapproval if the President attempts to lift any of the sanctions, and sunsets most of its Russian sanctions provisions after five years.