Trump signed the legislation on Friday, two days after the Republican-led House of Representatives passed it by a vote of 262-159.
The bill had earlier cleared the Senate.
Bill named after late Senator Lindsey Graham
Officially titled the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, the legislation is named after Republican Senator Lindsey Graham, a prominent supporter of Ukraine who died in July this year.
The law targets Russian officials, financial institutions, energy interests and entities involved in helping Moscow evade sanctions.
It also includes provisions aimed at Russia's oil-exporting network.
India, China face potential 100% tariff
The legislation gives Trump the authority to impose tariffs of up to 100% on imports from countries covered by its Russian oil and gas provisions.
India and China are among the world's largest buyers of Russian crude and could therefore be affected if the tariff powers are invoked.
However, the law itself does not automatically impose a 100% tariff on either country.
The legislation also provides for exemptions under certain conditions, including for countries importing less than 15% of Russia's natural gas exports and taking substantial steps to reduce their dependence.
House passes bill with bipartisan support
The House approved the legislation 262-159 before sending it to Trump for his signature.
The measure is intended to increase economic pressure on Moscow by targeting its energy revenues and other sources of financing linked to the war in Ukraine.
How did India respond?
India’s response has been firm but measured, focusing on energy security and the potential impact on India-US ties.
Earlier this week, the government said it would take “all necessary measures” to protect those interests and work with trade and industry bodies to deal with the implications of the US move.
India has not announced that it will halt Russian crude imports because of the new US law. Its stated position remains that energy sourcing decisions are guided by national interest.