Washington: The US Senate approved a bill on Friday aimed at tightening sanctions on Russia and Iran. The legislation, named the "Lindsey Graham Russia and Iran Sanctions Act of 2026," provides President Donald Trump with the authority to impose tariffs of up to 200% on major purchasers of Russian oil and gas. Additionally, it extends sanctions to encompass Russian financial institutions, elites, wealthy individuals with ties to the Kremlin, and the Russian "shadow fleet."

According to National Iraqi News Agency, the bill also prolongs sanctions on Iran until 2031. This extension comes after Senate Majority Leader John Thune expanded the sanctions' scope to include Tehran and Hezbollah, alongside Moscow. The legislation now proceeds to the House of Representatives, where a vote is anticipated in September before it can be forwarded to President Trump.

The bill has sparked varied interpretations in Washington. Some view it as a robust tool for the White House to leverage in negotiations, while others argue it could potentially limit diplomatic efforts if talks with Tehran encounter difficulties.