H.R. 5334
Lindsey O. Graham Sanctioning Russia and Iran Act of 2026
Sponsor: Jimmy Panetta · 23 cosponsors
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Official summary
Written by the Congressional Research Service.
Lindsey O. Graham Sanctioning Russia and Iran Act of 2026
This bill imposes a variety of sanctions, tariffs, and prohibitions related to Russia, extends an Iran-related sanctions law, and expands a tax deduction for teacher expenses to include early childhood educators.
For example, under the bill, the President must impose visa- and property-blocking sanctions on specified persons (individuals and entities) such as the Russian president and certain Russian military commanders. The President must also increase the rate of duty up to 100% ad valorem (i.e., relative to the value) on all goods imported into the United States from a country that was among the five largest importers of Russian-origin crude oil or natural gas if such country knowingly makes new purchases of such products after enactment of the bill.
The bill prohibits (1) the export, reexport, or in-country transfer to or in Russia of any U.S.-produced energy or energy product; (2) U.S. persons from making new investments in Russia or purchasing Russian sovereign debt; and (3) trading the securities of Russian government-owned, -controlled, or -affiliated entities on U.S. national securities exchanges.
The bill extends through 2031 the Iran Sanctions Act of 1996, which requires the President, with some exceptions, to impose sanctions on certain persons engaged in specified transactions related to Iran's energy sector or Iran's efforts to acquire or develop certain weapons.
The bill expands eligibility for federal tax deductions of certain educator expenses to early childhood educators providing educational or childcare services to those under age 6.
Text of the bill
A Lindsey O. Graham Sanctioning Russia and Iran Act of 2026
I Sanctions with respect to the Russian Federation
Where this section came from
Not in the first version (Introduced in House, Sep 11).
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Aug 7, 2026 · Engrossed Amendment Senate On Cloture on the Motion to Proceed — Cloture on the Motion to Proceed Agreed to, 86–12 · Roll Call 212On the Motion to Proceed — Motion to Proceed Agreed to, 84–12 · Roll Call 213On the Amendment — Amendment Rejected, 32–64 · Roll Call 223On Passage of the Bill — Bill Passed, 86–11 · Roll Call 224
(a) In general. Except as provided by subsection (b), effective on the date that is 30 days after the date of the enactment of this Act, a depository institution (as defined in section 19(b)(1)(A) of the Federal Reserve Act (12 U.S.C. 461(b)(1)(A))) or a broker or dealer in securities registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) may not process transfers of funds—
(1) to or from the Government of the Russian Federation, including any entity owned by the Government of the Russian Federation; or
(2) for the direct or indirect benefit of officials of the Government of the Russian Federation.
(b) Exception. A depository institution, broker, or dealer described in subsection (a) may process a transfer described in that subsection if the transfer arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction that is authorized by a specific or general license.
II Other matters
B Supporting Early-childhood Educators’ Deductions