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President Trump to Sign Sanctioning Russia and Iran Act, Expanding Tariff Authority

President Trump to Sign Sanctioning Russia and Iran Act, Expanding Tariff Authority

President Trump is expected to sign the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law. This legislation, which passed both the Senate and the House of Representatives, grants the President expanded authority to impose tariffs of up to 100 percent on nations that continue to purchase crude oil and natural gas from Russia. The Act also targets maritime vessels associated with Russia's 'shadow fleet' and includes a five-year extension of existing sanctions against Iran, a condition President Trump advocated for. While the bill does not automatically apply these duties, it empowers the executive branch to implement them under specified legal conditions. The measure is considered the most significant American legislative package supporting Ukraine since President Trump's return to the White House, breaking a two-year parliamentary deadlock.

Analysis-Russia sanctions bill gives Trump sweeping new tariff powers

Analysis-Russia sanctions bill gives Trump sweeping new tariff powers

By Andrea Shalal WASHINGTON, Sept 18 (Reuters) - The Russia sanctions bill passed by Congress this week gives US President Donald Trump new powers to impose tariffs that could last well beyond his presidency, injecting more uncertainty into the global economy after nearly two years of trade wars.

U.S. Congress Grants President Trump New Powers to Impose Tariffs on Russian Energy Buyers

U.S. Congress Grants President Trump New Powers to Impose Tariffs on Russian Energy Buyers

The United States Congress has passed a bill, the “Lindsey O Graham Sanctioning Russia Act of 2026,” which grants President Trump extensive authority to impose sanctions on Russia's crude exports and significant tariffs on countries purchasing Russian energy. This legislation, passed by the House of Representatives and sent to President Trump for signing, represents the most substantial U.S. action against Moscow since President Trump's return to the White House. The bill aims to curtail the economic resources Russia uses to fund its ongoing conflict in Ukraine. It includes provisions for new sanctions against Russian President Vladimir Putin and over 20 top officials and companies linked to the Russian defense industry. Additionally, it targets Russia's 'shadow fleet' of oil tankers and its network for evading international sanctions on energy exports. Under this new law, President Trump can invoke the International Emergency Economic Powers Act (IEEPA) to apply tariffs of up to 100 percent on exports to ...

The Latest: Federal Reserve defies Trump, hikes key interest rate for first time in 3 years

The Latest: Federal Reserve defies Trump, hikes key interest rate for first time in 3 years

The Federal Reserve has raised its benchmark interest rate for the first time since 2023 to address high inflation

Explainer-Why are world leaders at the UN next week and what will they talk about?

Explainer-Why are world leaders at the UN next week and what will they talk about?

By Michelle Nichols UNITED NATIONS, Sept 17 (Reuters) - World leaders gather in New York every September for several days of high-level debate starting on Tuesday at the United Nations General Assembly. WHO SPEAKS WHEN?

A sweeping US sanctions bill offers Ukraine new leverage on Russia, but enforcement looms

A sweeping US sanctions bill offers Ukraine new leverage on Russia, but enforcement looms

Ukraine believes Russia will only negotiate seriously if the war becomes too costly

US House expected to pass Russia sanctions bill backed by late Senator Graham

US House expected to pass Russia sanctions bill backed by late Senator Graham

By Patricia Zengerle WASHINGTON, Sept 16 (Reuters) - The U.S.

House approves sweeping Russia sanctions bill, sending it to Trump

House approves sweeping Russia sanctions bill, sending it to Trump

The House has passed a broad package of sanctions targeting Russian officials and key pillars of its economy as lawmakers look to deprive President Vladimir Putin of the financial resources needed to wage the war against Ukraine

The Latest: Trump says EU allowing Canada as associate member could be a ‘hostile act’

The Latest: Trump says EU allowing Canada as associate member could be a ‘hostile act’

President Donald Trump suggested that the European Union allowing Canada to become an associate member could be a “hostile act” and threatened to respond to the proposed move by imposing more tariffs on the bloc

US House passes Russia sanctions bill championed by late Senator Graham

US House passes Russia sanctions bill championed by late Senator Graham

By Patricia Zengerle WASHINGTON, Sept 16 (Reuters) - The U.S.

The Latest: Federal judge orders Kennedy Center to provide 30 days' notice of any building changes

The Latest: Federal judge orders Kennedy Center to provide 30 days' notice of any building changes

A federal judge has ordered the Kennedy Center to provide 30 days’ notice before making any major physical changes to the building, including demolishing it — as President Donald Trump has threatened

Morning Bid: A timely hike

Morning Bid: A timely hike

By Anna Szymanski Sept 17 (Reuters) - Stocks edged up early on Thursday as investors digested the Federal Reserve's first interest rate hike in three years. The central bank lifted the benchmark rate by a quarter point to 3.75%-4.00% and signalled more tightening to come.