In a significant development, the US Congress on Thursday passed the sweeping sanctions bill which authorise President Donald Trump to impose sanctions on Russia and steep tariffs on its trading partners in oil and gas, including India and China. It should be noted that the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, which was passed by the US Senate last month, was approved by the House in a 262-159 vote and will now go to Trump to be signed into a law.
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