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House advances sanctions targeting Russia and Iran oil revenue
The bill would target Russian banks and energy revenues, extend Iran sanctions through 2031, and cover firms tied to sanctions evasion and the Kremlin-linked shadow fleet.
OilPrice reports the US House of Representatives advanced a sweeping Russia and Iran sanctions package on August 10, shortly after the Senate approved a companion measure by an 86-11 vote.
The House move came while lawmakers were in August recess, as Republican Representative Michael McCaul of Texas, Brian Fitzpatrick of Pennsylvania, Democratic Congressman Steny Hoyer of Maryland, and a bipartisan group introduced the House version of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026.
The bill would target Russian banks, energy revenues, oligarchs, the Kremlin-linked shadow fleet, and sanctions-evasion networks, as well as foreign governments and companies helping sustain Moscow’s war against Ukraine. It would also extend longstanding sanctions against Iran through 2031.
OilPrice adds that the identical House legislation to the Senate-passed measure sets up a congressional debate over the bill’s tariff provisions and the extent of presidential authority over countries.