Democrats Warn Russia Sanctions Bill Could Raise US Consumer Prices

Democratic lawmakers have urged Congress to block a sweeping Russia sanctions bill championed by the late Senator Lindsey Graham, warning that it would raise prices for American consumers.

The revised Sanctioning Russia Act of 2026 was introduced in the Senate on Thursday, days after Graham died. The senator passed away last Saturday, a day after returning from Ukraine.

Republicans have urged Congress to pass the bill, describing it as a tribute to Graham’s legacy of “promoting liberty around the world” and his “fierce support for Ukraine’s freedom.”

Democrats, however, argue that honoring Graham in this way would leave American households footing the bill through higher prices.

Apart from imposing sanctions on Russian officials and entities, the act would also authorize tariffs of up to 100% on imports from countries that continue buying large volumes of Russian oil and gas.

According to Congressmen Don Beyer and Brad Schneider, the bill would raise costs for American families and damage America’s “most vital trade relationships.”

On Sunday, Trump urged Congress to “add Iran to the Russian Sanctions Bill,” noting that “that’s what Lindsey wanted to do, and it was going to happen.” Earlier this month, he said that lawmakers were working on including both Iran and Hezbollah in the legislation, while noting that the issue of secondary sanctions being applied to China and India “has not been discussed.”

The largest buyers of Russia’s oil and gas are China and India. China was the third-largest source of US imports after Mexico and Canada last year, accounting for nearly 10% of total imports. India supplied another 3%, according to UN trade data.

The Democrats’ warning comes as Ukraine’s drone strikes on Russian oil refineries have created an economic shock that is “increasingly visible worldwide, including in the US,” according to Axios.

Russia, one of the world’s largest oil producers and exporters, suspended diesel exports this month after Ukrainian drone strikes disrupted domestic fuel supplies. The Financial Times and Associated Press said the resulting shortages have pushed diesel prices higher worldwide and increased costs for US consumers.

Diesel prices in the US edged above $5 a gallon this week, Axios reported, citing tightening global fuel supplies. Americans are facing another surge in fuel costs only months after the Iran conflict and disruptions in the Strait of Hormuz triggered a similar spike. EIA data shows that before 2026, the last sustained period of nationwide diesel prices above $5 came during the 2022 global energy crisis following the escalation of the Ukraine conflict.