US senators reach a deal on a new sanctions bill that would extend the Iran Sanctions Act to 2031

A bipartisan group of US senators announced on Tuesday 28 July 2026 that they had agreed to move forward with a new sanctions bill. According to the US Senate Committee on Foreign Relations, the bill would give the US president authority to impose further restrictions on major buyers of Russian energy as well as on Iran.

The Iran section extends the Iran Sanctions Act of 1996 through 2031. That law, which was due to expire this year, is the basis for secondary sanctions on non US companies doing business with Iran, and the extension would close a potential lapse in the administration's sanctions authority.

The bill would also allow the president to target with tariffs the top five buyers of Russian crude oil and gas, along with the five countries doing the most to help Russia evade energy sanctions. A procedural vote on the bill was scheduled in the Senate for Tuesday evening.