Bipartisan legislation targets the financial and energy networks sustaining Putin’s war and strengthens the path toward a just and lasting peace

WASHINGTON – Today, Congressman Brian Fitzpatrick (PA-1), Co-Chair of the Congressional Ukraine Caucus, helped secure final House passage of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, clearing the legislation through Congress and sending it to the President’s desk to be signed into law.

Click here to watch his Floor Speech. 

Named in honor of the late Senator Lindsey Graham, the legislation represents the culmination of more than a year of bipartisan work to cut off the resources sustaining Vladimir Putin’s war against Ukraine, hold accountable those enabling his aggression, and strengthen the economic and diplomatic leverage necessary to bring the war to an end.

“Peace becomes possible when aggression carries a cost greater than its reward. For too long, Putin has relied on energy revenues, financial networks, and willing enablers to sustain his war against Ukraine.

This legislation goes directly at those lifelines. It uses America’s economic strength to raise the cost of continued aggression, increase the pressure on Moscow, and strengthen the prospects for a just and lasting peace—one that preserves a free and sovereign Ukraine.

With this bill headed to the President’s desk, we are making clear to allies and adversaries alike that America will not treat aggression as consequence-free—and that our strength will remain firmly behind the pursuit of a just peace.

That is ultimately what this effort is about: standing against aggression, defending the principle of sovereignty, and using American strength to help create the conditions for peace. Lindsey was an extraordinary partner in that work, and I was honored to build this effort alongside him and help see it through,” said Fitzpatrick.

The legislation establishes a comprehensive sanctions framework targeting the political, financial, energy, and commercial networks sustaining Russia’s war. Among its provisions, the bill:

• Targets Russia’s political and economic power structure, including senior Russian officials, oligarchs, entities supporting Russia’s defense industrial base, and foreign actors materially assisting Moscow’s military operations;
• Strikes at Russia’s financial system, including sanctions against major Russian financial institutions and certain foreign financial institutions conducting significant transactions with sanctioned Russian banks;
• Disrupts Russia’s shadow fleet and sanctions-evasion networks by targeting vessels moving Russian oil and other sanctioned goods, along with the owners, operators, insurers, ports, and other actors facilitating those operations;
• Restricts Russia’s access to capital and energy investment, including new U.S. investment in Russia, investment in its energy sector, purchases of Russian sovereign debt, and financial services used to circumvent sanctions;
• Increases pressure on Russia’s energy revenues, including authority for additional duties on Russian goods and targeted duties on countries among the largest purchasers of Russian-origin energy or leading facilitators of Russian oil sanctions evasion; and
• Preserves critical sanctions authorities against Iran by extending the Iran Sanctions Act of 1996 through 2031.

The legislation also establishes conditions for permanently terminating Russia-related sanctions. Under the bill, the President may terminate those sanctions after certifying to Congress that Russia has signed a peace agreement accepted by the free and independent Government of Ukraine and has ceased military hostilities and efforts to overthrow, dismantle, or subvert the Ukrainian government. The termination is subject to congressional review.

The Senate previously approved the legislation 86–11 on August 7.

The Administration formally supported passage of the legislation, citing its ability to increase pressure on Russia, strengthen the tools available to pursue a negotiated resolution, and preserve critical sanctions authorities against Iran. The President’s advisers have said they would recommend he sign the measure into law.

Background

As Co-Chair of the Congressional Ukraine Caucus, Fitzpatrick has helped lead bipartisan efforts to hold Russia accountable and advance a Ukraine policy rooted in peace through strength: sustaining Ukraine’s ability to defend itself, increasing pressure on Putin and those enabling his war, and ensuring that any path to peace protects Ukraine’s sovereignty and is accepted by the free and independent Government of Ukraine.

Fitzpatrick’s work has been informed by his firsthand visits to Ukraine and meetings with Ukrainian leaders, servicemembers, and civilians confronting Russia’s aggression. His efforts have included the Peace Through Strength Against Russia Act, the Countering Russia’s War on Faith Act, the Ukraine Support Act, and bipartisan initiatives addressing Russia’s attacks on civilians and the abduction of Ukrainian children.

The Lindsey O. Graham Sanctioning Russia and Iran Act carries that strategy forward by targeting the financial and energy networks sustaining Putin’s war machine, imposing consequences on those enabling his aggression, and strengthening Ukraine’s position in pursuit of a just and lasting peace.

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