Trump signs new sanctions bill targeting Russian and Iranian oil exports
The US Congress passed and President Trump signed a sanctions bill that expands his options on Russian and Iranian oil, officials said.
Congress approved a new sanctions measure, commonly referred to as the Graham Sanctions Bill, which President Trump has now signed into law. The bill expands the president's toolkit for dealing with Russian and Iranian oil, but the administration has provided few specifics about how the options will be used. Officials said the decision on employing these powers will rest with the president.
Inquiries about potential effects on India, a major importer of Russian oil, yielded no concrete information. The Russia-Ukraine conflict continues to dominate US policy priorities. Meanwhile, there is no new update on the pending India-US interim trade agreement, though officials expressed hope for a fair deal.
Why it matters
The law could reshape US pressure on Russia and Iran and affect global oil markets and trade ties.
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