Hoeven: Senate Passes Legislation to Hold Purchasers of Russian Oil Accountable

WASHINGTON — Senator John Hoeven issued the following statement after the Senate passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, legislation that was negotiated by U.S. Senator Lindsey Graham (R-S.C.) and the White House to hold major purchasers of Russian oil and gas accountable for supporting Russia’s war in Ukraine. Hoeven joined Senator Richard Blumenthal (D-Conn.), Senator Darline Graham (R-S.C.) and a bipartisan group of their Senate colleagues in introducing the legislation earlier this month. Senator Lindsey Graham met with Ukrainian President Volodymyr Zelenskyy to discuss the effort and secured an agreement with the White House on July 10, just before his death. Blumenthal and Lindsey Graham first introduced legislation to bring primary and secondary sanctions against Russia and actors supporting Russia’s aggression in Ukraine in April 2025 and have spent the last year building support for the effort in Congress and with the Trump administration. “Russia relies on oil and gas revenue to fund its war against Ukraine, and those enabling this aggression should be held accountable,” said Hoeven. “This bipartisan legislation will strengthen sanctions to increase pressure on Russia, reduce the resources fueling Putin’s aggression, and help advance peace. Lindsey dedicated tremendous effort to moving this legislation forward, and its passage in the Senate is a fitting tribute to his legacy.” The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 imposes primary and secondary sanctions against Russia and actors supporting Russia’s war in Ukraine. These sanctions target Russian officials, oligarchs, their family members, foreign persons, Russian banks and financial institutions and the Russian Shadow Fleet. The legislation also directs the President to impose up to 100 percent tariffs on imported goods from countries that buy most of the Russian oil and gas, and enable Russian sanctions evasion. This bill limits these tariffs to the five largest importers of Russian crude oil and gas. Full text of the legislation can be found here . -###-