On September 18, 2026, President Trump signed into law the bipartisan Russia (and Iran) sanctions package known as the Lindsey O. Graham Act. The statute gives the President authority to impose tariffs of up to 100% on goods from the top five importers of Russian crude oil or natural gas and on facilitators of sanctions evasion. Most measures must be addressed within 30 days of enactment, subject to national-security waiver authority. Finance, treasury and trade-finance teams need rapid exposure mapping.
The new law expands both traditional sanctions tools and secondary tariff authorities aimed at Russiaβs energy revenues. It targets Russian officials, financial institutions, the βshadow fleetβ of tankers, and major energy projects, while also extending certain Iran-related authorities. The most commercially consequential provision for many non-Russian companies is the secondary tariff power directed at large purchasers of Russian energy.
This is a high-level summary of publicly reported statutory features and is not legal, sanctions or tax advice. Companies with potential exposure should obtain formal guidance from sanctions counsel and their financial institutions.
- What changed? New statutory authority for up to 100% tariffs on top buyers of Russian energy and expanded Russia/Iran sanctions tools.
- When? Signed September 18, 2026; many actions required within 30 days subject to waiver.
- Who is affected? Companies with supply-chain, financing or customer links to major Russian-energy importers (China and India are the largest) and entities that facilitate energy shipments.
- What to do this week? Map direct and indirect exposure to the top five Russian-energy importers and any shadow-fleet logistics or financing relationships.
What secondary tariff powers does the law create?
The statute authorizes the President to impose tariffs of up to 100% on imports into the United States from the five largest importers of Russian crude oil or natural gas (measured over a recent period) and from countries determined to have facilitated sanctions evasion. Exceptions exist for countries that import only a small share of Russian natural gas and are demonstrably reducing dependence. The President also holds broad national-security waiver authority, which must be reported to Congress.
How quickly must action be taken?
Many of the sanctions and tariff-related determinations are required within 30 days of enactment. Because the President retains waiver flexibility, the practical timeline for any specific tariff action remains a policy decision. Markets and counterparties will watch early signals closely.
Why this matters for finance and treasury teams
Secondary tariffs, if imposed, would raise the cost of U.S.-bound goods from the targeted countries and could disrupt existing supply contracts, letters of credit, and trade-finance facilities. Even the threat of action can affect pricing, insurance rates and counterparty risk assessments. Banks and insurers may tighten screening of energy-related transactions involving the largest Russian-oil buyers.
Concrete steps for this week
Identify the current top five importers of Russian energy using publicly available trade data and confirm any material direct or indirect exposure in the companyβs supply chain or customer base. Review trade-finance documentation and insurance policies for sanctions and secondary-tariff clauses. Engage relationship banks on their screening posture. Scenario-plan cost and availability impacts under different tariff rates and waiver outcomes. Monitor White House and Treasury announcements for the first formal determinations.
What to watch next
Whether the administration issues any early determinations or waivers inside the 30-day window, the reaction of the largest affected energy importers, and any parallel effects on global energy prices or shipping rates.
Are the secondary tariffs automatic?
No. The law authorizes and in some cases directs determinations, but the President retains significant waiver and implementation discretion.
Which countries are most likely to be affected?
China and India have been the largest purchasers of Russian crude in recent years; exact rankings will depend on the statutory measurement period.
Does the law create new primary sanctions on Russia?
Yes. It expands sanctions on officials, banks, the shadow fleet and certain energy projects in addition to the secondary tariff authorities.
Should companies immediately re-route supply chains?
That depends on the degree of exposure and the companyβs risk tolerance; many will wait for the first formal determinations while preparing contingency options.
Son GΓΌncelleme / Last Updated: September 21, 2026. Related: 30-Year Mortgage Rates Near 7% After Fed Hike Β· Finance hub
Discover more from Kurums | Business Intelligence
Subscribe to get the latest posts sent to your email.