President Trump recently signed Congressional Bill H.R. 5334, the “Lindsey O. Grahm Sanctioning Russia and Iran Act of 2026,” into law. The bill combines new sanctions, tariffs, and trade restrictions aimed at Russia with an extension of existing Iran sanctions and a change to the tax code for educators; however, its main focus is economic and diplomatic pressure on Moscow. H.R. 5334 requires, among other things, that the President deny visas to, and freeze the assets of, designated individuals and entities, including Russia’s president and certain senior military commanders. It also targets countries that help keep Russia’s energy revenue flowing. If any of the five largest importers of Russian crude oil or natural gas knowingly make new purchases after the law takes effect, the President would have to raise tariffs on all of that country’s goods entering the United States by as much as 100 percent of their value. In addition, the new law cuts off Russia’s access to American energy and capital by banning exports, reexports, and in-country transfers of U.S.-produced energy products to or within Russia. It also prohibits Americans from making new investments in Russia or buying its government debt and bans trading on U.S. national securities exchanges in the securities of entities owned, controlled, or affiliated with the Russian government.
In addition to the restrictions aimed at Russia, the bill keeps the Iran Sanctions Act of 1996 in force through 2031. That law generally requires the President, subject to certain exceptions, to sanction parties involved in specified dealings with Iran’s energy sector or with Tehran’s efforts to obtain or develop certain weapons. In a provision unrelated to foreign policy, the bill also extends a federal tax deduction for certain classroom expenses to early childhood educators who provide education or childcare to children younger than six.
White House Statement | H.R. 5334 Congressional Summary