New US Act Targets Russia and Third Countries Buying Russian Energy with High Tariffs
What happened
President Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act into law on September 18, 2026. The act introduces a new tariff framework targeting goods from Russia and countries that purchase Russian energy. This framework includes duties of up to 500% ad valorem on all goods imported from Russia, and up to 100% ad valorem on goods from specific third countries.
From mondaq.com
Why it matters
The new tariffs are mandatory and stack on top of any existing duties, including those under Section 301 or Section 232. The duties apply to imports from countries identified as major buyers of Russian crude oil or natural gas, or those facilitating oil sanctions evasion. The deadline for these duties is October 18, 2026.
From mondaq.com
Who's involved
- HungaryCountry facing elevated risk of new tariffs due to energy purchases.
- TurkeyCountry identified as a potential target for secondary tariffs under the new US Act.
- SlovakiaCountry facing elevated risk of new tariffs due to energy purchases.
- IndiaCountry identified as a potential target for secondary tariffs under the new US Act.
- United Arab EmiratesCountry facing elevated risk of new tariffs due to energy purchases.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- HungarySpeculative
The country could face up to 100% duties on imports if it is targeted under the new tariff tracks.
- TurkeySpeculative
The country could face up to 100% duties on imports if it is targeted under the new tariff tracks.
- SlovakiaSpeculative
The country could face up to 100% duties on imports if it is targeted under the new tariff tracks.
- IndiaSpeculative
The country could face up to 100% duties on imports if it is targeted under the new tariff tracks.
- United Arab EmiratesSpeculative
The country could face up to 100% duties on imports if it is targeted under the new tariff tracks.
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The entities involved
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Hungary
country in Central Europe
- Péter Magyar's party swept Viktor Orbán from power in Hungary, with Magyar aiming to prevent Orbán's return.
- EU accession processes are advancing for Ukraine and Moldova, as Hungary lifts its veto on Ukraine's accession and Péter Magyar lifts the veto on EU accession. Ireland is also involved in the presidency.
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Turkey
country in West Asia and Southeast Europe
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Slovakia
country in Central Europe
Related events
- Anand Sharma urges India to reject punitive US tariffs as Hungary and Slovakia affirm support for the Ukraine war against Russia.
- Hungary frequently raises objections to EU sanctions on Russia, while Latvian MEPs advocate for expanding sanctions against Russia.
- A tariff bill targeting India and Hungary and India and Azerbaijan was proposed, alongside a settlement of energy tariffs between Modi and Trump.
- Diplomatic talks in Hungary focused on political and economic rapprochement, involving German companies.
- Assessments suggest that the bilateral relationship between Hungary and Poland requires stronger economic foundations to move forward.