President Trump urged lawmakers on Sunday to add Iran to a bill that would impose new sanctions on countries buying Russian oil and natural gas.
The bill, which has the support of more than 60 senators among both parties, was sponsored by the late Sen. Lindsey Graham, South Carolina Republican.
“Republicans should add Iran to the Russian sanctions bill. That’s what Lindsey wanted to do and it was going to happen. Important,” Mr. Trump posted on Truth Social.
If passed, the bill would impose mandatory sanctions on Russia, its allies and buyers of Russian energy. The White House has pushed to broaden the scope of sanctions to include Iran and Hezbollah, a militant proxy sponsored by Tehran.
Republicans and Democrats have expressed optimism that the bill could become law this summer.
House Foreign Affairs Committee Chairman Michael McCaul, Texas Republican, said he intends to introduce a House version of the bill on Monday, calling it Mr. Graham’s “final wish.”
“We anticipate it could pass as early as this week and nothing would honor Lindsey’s legacy greater than Congress passing this sanctions bill because he knew to be strong at home you had to project strength abroad,” he said on “Fox News Sunday.”
“This bill not only punishes Russia and energy coming out of Russia; it also hurts Iran and it also hurts China,” Mr. McCaul said.
Sanctions essentially cut individuals and companies off from the Western financial system, prohibiting them from doing business with U.S. companies or putting their money in U.S. financial institutions.
Any funds currently held in U.S. institutions would be frozen. Because the U.S. dollar is the main currency for global transactions, it would have a financial impact on sanctioned entities.
The use of sanctions soared under President Joseph R. Biden following Russia’s invasion of Ukraine in 2022, reaching an astounding 3,000 in 2024. However, they declined under Mr. Trump, who relied on tariffs to gain leverage over foreign entities.
Mr. Trump has expressed concern over sanctions, saying he believes it moves countries and businesses away from the dollar.
