Lindsey O. Graham Sanctioning Russia and Iran Act of 2026

(a) Imposition of sanctions

(1) In general. Not later than 30 days after the date of the enactment of this Act, the President shall—

(A) impose 2 or more of the sanctions described in subsection (d) with respect to the Central Bank of the Russian Federation (Bank of Russia) and any subsidiary of, or successor entity to, that Bank;

(B) impose all of the sanctions described in subsection (d) with respect to—

(i) Sberbank;

(ii) VTB Bank;

(iii) Gazprombank;

(iv) any other financial institution organized under the laws of the Russian Federation and owned in whole or in part by the Government of the Russian Federation;

(v) any subsidiary of, or successor entity to, any of the financial institutions described in clauses (i) through (iv); and

(vi) except as provided by subsection (c), any foreign financial institution that engages in significant transactions with any of the financial institutions described in clauses (i) through (v); and

(C) impose the sanctions described in section 102(e) with respect to any leaders, officials, senior executive officers, or members of the board of directors of, or any principal shareholders with a controlling or majority interest in, a financial institution described in subparagraph (A) or (B).

(2) Updates. Not later than 210 days after the date of the enactment of this Act, and every 180 days thereafter, the President shall—

(A) review any persons that may be described in paragraph (1); and

(B) if sanctions have not been imposed under this subsection with respect to any person the President determines is described in paragraph (1), impose such sanctions with respect to that person.

(b) Prohibition on transactions by United States persons. Effective on the date that is 30 days after the date of the enactment of this Act, the President shall prohibit any United States person from engaging in any transaction with a financial institution described in subsection (a)(1)(B).

(c) Exception for certain financial institutions. The President is not required to impose sanctions under subsection (a)(1)(B) with respect to a foreign financial institution described in clause (vi) of that subsection if the Secretary of the Treasury determines that imposing such sanctions is not consistent with the economic or foreign policy interests of the United States.

(d) Sanctions described. The sanctions described in this subsection to be imposed with respect to a financial institution described in subsection (a) are the following:

(1) Blocking of property. The President shall exercise all of the powers granted to the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of the financial institution if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.

(2) CAATSA sanctions. Two or more of the sanctions described in section 235 of the Countering America’s Adversaries Through Sanctions Act (22 U.S.C. 9529) that are not already imposed.

(3) Restrictions on correspondent and payable-through accounts. The President shall prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States, of a correspondent account or payable-through account by the financial institution.

(e) Rule of construction

(1) Treatment of returns on immobilized Russian sovereign assets

(A) In general. A United States or foreign financial institution holding immobilized Russian sovereign assets under the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (division F of Public Law 118–50; 22 U.S.C. 9521 note) or any other provision of law is not required to return any interest earned on those assets and due to the Russian Federation.

(B) Exception for interest earned. Subparagraph (A) shall not be construed as affecting the treatment of interest earned on the assets of persons the assets of which have been blocked under any provision of law.

(2) Loans to Ukraine using immobilized Russian sovereign assets. Sanctions imposed under this section shall not apply with respect to payments on—

(A) the loans provided by the United States and the Group of 7 or the European Union to Ukraine that are serviced and repaid with the proceeds of immobilized Russian sovereign assets; or

(B) any loans from the United States or countries that are members of the Group of 7 or the European Union made after the date of the enactment of this Act using proceeds from immobilized Russian sovereign assets.