US Senate Advances Sanctions Bill Against Russia and Iran, While New Tariffs Affect 60 Trade Partners

The U.S. Senate is moving forward with a bipartisan bill, the "Lindsey O. Graham Sanctioning Russia and Iran Act of 2026," to impose extensive sanctions on Russia's war efforts and Iran's energy and weapons sectors. Simultaneously, the Trump administration has enacted new Section 301 tariffs, ranging from 10% to 12.5%, on goods from 60 trading partners, which are already prompting lawsuits from small businesses. These actions signify a dual approach to global economic pressure and trade policy.