U.S. President Donald Trump has signed a sweeping sanctions bill, targeting Russia’s economy by imposing tariffs on major purchasers of its oil and gas, according to the BBC. The bill, passed by the House of Representatives earlier this week, grants Trump the authority to levy up to 100% tariffs on the top five purchasers of Russian oil and gas—most notably China and India. The legislation, titled the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, also includes measures against Iran’s energy and weapons sectors at Trump’s behest.

Expanded Sanctions and Exceptions

The 48-page bill includes provisions that exempt countries importing less than 15% of their natural gas from Russia and those working to reduce dependency; And, the bill imposes sanctions on Russian President Vladimir Putin, senior government figures, banks, and financial institutions. It also targets Russia’s so-called “shadow fleet” of tankers used to circumvent existing sanctions. The bill received support from Ukrainian President Volodymyr Zelensky, who called it “critically important legislation.”

Senator Graham’s Legacy and Global Impact

The bill is named after the late Senator Lindsey Graham, a prominent advocate for stronger sanctions on Russia following its 2022 invasion of Ukraine. Senator Richard Blumenthal of New York described the legislation as “scorching sanctions” that would “throttle Putin’s war machine.” While Turkey and the European Union each accounted for 5% of Russian energy exports during the same period, EU imports have been declining. Graham had long pushed the Trump administration to take more aggressive action against Russia.

Separate Developments on Foreign Aid and Commemorative Coins

Separately, Trump’s decision to pause U.S. foreign aid is causing uncertainty in regions such as Syria, where Kurdish authorities are struggling to manage camps and prisons housing former Islamic State (IS) members. The al-Hol camp, housing approximately 40,000 former IS family members, has seen disruptions due to the aid freeze. A camp manager noted that NGOs receiving up to 70% of their funding from the U.S. were unable to operate as usual.

On a different note, the U.S. Mint is producing a $1 gold-colored coin featuring Trump’s image to commemorate the 250th anniversary of American independence. Treasury Secretary Scott Bessent announced the coin, which includes the words “LIBERTY,” “IN GOD WE TRUST,” and “1776-2026.” The coin was authorized under the Circulating Collectible Coin Redesign Act of 2020, allowing the treasury secretary to issue commemorative coins for the semiquincentennial period beginning January 1, 2026.