US congressional bill proposes 500% tariff on Russian goods, Iran sanctions extension
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A bill introduced in the U.S. Congress would impose tariffs of up to 500% on Russian goods and extend sanctions on Iran through 2031. The legislation also mandates 100% tariffs on imports from countries purchasing Russian oil, uranium, or natural gas, and secondary sanctions against non-U.S. companies doing business with Iran. The House of Representatives is set to consider the measure in September.
Key Provisions
The bill grants the U.S. president authority to impose tariffs of up to 500% on Russian goods. It also mandates 100% tariffs on imports from any country that purchases Russian oil, uranium, or natural gas, a move that could affect major importers such as China and India. The legislation extends existing sanctions on Iran until 2031. It introduces secondary sanctions targeting non-U.S. companies that do business with Iran. The bill is under consideration in Congress, with a hearing held in the Senate earlier this week.
Legislative Timeline
The House of Representatives is scheduled to debate the bill in September 2026. If passed by the House, it would move to the Senate for final approval. No date has been set for a Senate vote.
What's Next
The House is set to vote on the bill in September, but its passage is uncertain given potential trade disruptions and opposition from lawmakers concerned about escalating tensions. It remains unclear whether the Senate will move quickly on the legislation after the House vote.
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US congressional bill proposes 500% tariff on Russian goods, Iran sanctions extension
