⏱️ 3 min read
By the PILLARS team. Updated November 6, 2026.
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 (H.R. 5334) became law on September 18, 2026, as Public Law 119-111. It puts new tariffs, sanctions and investment bans on Russia, extends the Iran Sanctions Act to 2031, and, in a separate part, lets early childhood educators claim the federal educator expense tax deduction. The Senate passed it 86 to 11 on August 7, 2026, and the House passed it 262 to 159 on September 16, 2026.
Tariffs
Within 30 days, the President must raise tariffs on all goods from Russia, including oil and natural gas, to up to 500 percent.
The President must also raise tariffs, up to 100 percent, on all goods from countries that keep knowingly buying Russian crude oil or natural gas and are among the five largest buyers, or that are among the top five countries helping Russia get around oil sanctions.
The U.S. Trade Representative must update the list of top buyers every 180 days.
Sanctions on Russian officials
Every 180 days the President must review and sanction a list of Russian officials, including the president and prime minister, the defense minister and top military commanders, several other ministers, and the heads of Russia’s intelligence services. Sanctioned people have their U.S. property frozen and cannot get U.S. visas. The law also reaches people and companies that supply Russia’s military or support its “shadow fleet” of oil tankers.
Investment and trade bans
Americans cannot make new investments in Russia, starting 30 days after the law took effect.
Americans cannot buy Russian government bonds.
U.S.-produced energy cannot be exported to Russia.
Stocks of companies owned or controlled by, or affiliated with, the Russian government cannot trade on U.S. stock exchanges.
Iran
The law extends the Iran Sanctions Act of 1996, which punishes companies for certain business with Iran, from 2026 to 2031.
Preschool and childcare teachers
Teachers can already deduct some of what they spend on classroom supplies. Starting with 2026 tax returns, the law extends that educator expense deduction to early childhood educators who teach or care for children under 6 at a childcare facility or school.
Can the President waive it?
Yes. The President can waive any part of the law by certifying to Congress in writing that it is in the national interest. The President can also end the sanctions by reporting to Congress, which then has 30 days (60 if the report arrives during the summer recess) to block that with a joint resolution. The Russia sections expire 5 years after the law took effect; the Iran extension does not.
What supporters and critics said
Both quotes are from the House debate on September 16, 2026, as printed in the Congressional Record.
The case for. Rep. Michael McCaul (R-TX): “It targets the money that fuels Russia’s war machine. It sanctions Russian officials and oligarchs, banks, and financial institutions, and the shadow fleet that helps keep Russian energy moving. … Putin believes he can keep financing this war indefinitely. We need to change that calculation and bleed his regime economically dry, because the Kremlin has murdered thousands of civilians in cold blood.”
The case against. Rep. Don Beyer (D-VA): “The bill has a loophole that would allow him to define basically any country as a facilitator of evading Russian sanctions. He could then hit them with tariffs of up to 100 percent with no guardrails or oversight and no expiration. It is a much stronger tariff power than those he has already abused, and it will be much harder to challenge in court.”
See how your representatives voted
PILLARS shows how every member of Congress voted on this law: Sanctioning Russia and Iran Act (H.R. 5334) on PILLARS.
