Ukraine's President Volodymyr Zelenskiy stated he hopes President Donald Trump will utilize the recently signed Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 if Russian President Vladimir Putin declines to de-escalate the conflict.

President Donald Trump signed the legislation into law on Friday, expanding U.S. economic pressure on Moscow and granting new tariff authority against countries that trade significantly with Russia. The White House stated that the law "authorizes and expands statutory sanctions, tariffs, and prohibitions on Russia and extends existing sanctions on Iran."

The legislation was passed by the House on Wednesday following Senate approval last month. It targets key components of Russia’s economy to restrict revenue supporting its war in Ukraine. According to Reuters, the measure expands sanctions on Russia’s energy and defense sectors and specifically targets the so-called "shadow fleet" of tankers used to circumvent existing restrictions.

Tariff Authority for Trading Partners

A significant provision of the law authorizes tariffs against major buyers of Russian energy. This mechanism aims to extend economic pressure beyond Moscow to its primary trading partners. Critics have raised concerns regarding the breadth of this authority, arguing that the legislation grants Trump broad power to impose tariffs that could remain in effect beyond his presidency. There are also concerns that these expanded powers create economic risks for nations maintaining significant trade ties with Russia.

Russia’s Response

Russian President Vladimir Putin addressed the sanctions landscape at the BRICS Business Forum in New Delhi earlier this month. He stated that Russia has faced more than 30,000 sanctions, describing economic restrictions and trade barriers as tools of geopolitical competition. Putin noted that Russia has responded by strengthening ties with "reliable, predictable partners." He also claimed that the Russian economy has grown faster than the global average over the past three years.

Russia has set export duties on wheat, barley and corn at zero from September 1 through December 31, 2026.

Policy shift on grain exports

The decision eliminates duties on these specific grains for the remainder of the period, aiming to support the export potential of the agricultural sector. This measure refines the earlier plan to scrap grain export duties until the end of 2026 by specifying the commodities and effective dates.

Implications for grain trade

By removing duties on wheat, barley and corn, Russia targets key cost barriers for major grain shipments. The policy supports continuous outbound flows to international markets without additional levies during this window.