President Donald Trump on Friday signed the Lindsey O Graham Sanctioning Russia and Iran Act into law. The legislation, which passed the House of Representatives in a bipartisan 262-159 vote two days earlier, aims to increase economic pressure on Russia to end its invasion of Ukraine and push for negotiations.
The new law imposes harsh measures designed to weaken the Kremlin's war funding. It specifically targets Russian officials, banks, and a fleet of shadow tankers used to transport Russian energy.
The act grants the president the power to impose tariffs on countries that break the embargo, specifically targeting those making the largest purchases of Russian petroleum products, oil, and natural gas.
The legislation faced opposition from Democrat lawmakers. While favoring tougher sanctions on Russia, these lawmakers opposed provisions that enable the president to freely impose tariffs on nations that continue to buy large amounts of Russian energy, amid concerns that the legislation gives the president too much power.