US President Donald Trump has signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law, giving him the power to impose tariffs of up to 100 per cent on goods from countries that continue to buy large amounts of Russian crude oil or natural gas. India, one of Russia’s biggest oil customers, could be among the countries affected. China is also likely to come under scrutiny because it is the largest buyer of Russian crude. However, the law does not automatically put a 100 percent tariff on India or any other country. It gives the US president the authority to impose the tariff if the conditions set out in the law are met.