Updated Jul 28, 2026
/IMF warns Brazil's stablecoin flows outpace traditional cross-border capital/Senate moves toward Russia sanctions vote as Graham's memorial draws world leaders to Washington/EU clears Paramount's $110 billion Warner Bros. takeover as U.S. judge halts deal/SK Hynix shares plunge nearly 15% in Seoul as chip sell-off deepens/CZ backs crypto license passporting across ASEAN to cut compliance costs/Minnesota city sued after police cited preacher for holding pro-life sign without vendor license/IMF warns Brazil's stablecoin flows outpace traditional cross-border capital/Senate moves toward Russia sanctions vote as Graham's memorial draws world leaders to Washington/EU clears Paramount's $110 billion Warner Bros. takeover as U.S. judge halts deal/SK Hynix shares plunge nearly 15% in Seoul as chip sell-off deepens/CZ backs crypto license passporting across ASEAN to cut compliance costs/Minnesota city sued after police cited preacher for holding pro-life sign without vendor license
NewsSOS
← NewswireEnergy

Senate moves toward Russia sanctions vote as Graham's memorial draws world leaders to Washington

WASHINGTON, July 28. A Russia sanctions package renamed to honor Sen. Lindsey Graham, who died at 71 earlier this month, moved toward a procedural vote Tuesday night, hours after services at the U.S. Capitol and the National Cathedral drew Israeli Prime Minister Benjamin Netanyahu and Ukrainian President Volodymyr Zelenskyy to pay tribute to the late South Carolina lawmaker.

By Dev Okafor2 min read
Share

WASHINGTON, July 28. A Russia sanctions package renamed to honor Sen. Lindsey Graham, who died at 71 earlier this month, moved toward a procedural vote Tuesday night, hours after services at the U.S. Capitol and the National Cathedral drew Israeli Prime Minister Benjamin Netanyahu and Ukrainian President Volodymyr Zelenskyy to pay tribute to the late South Carolina lawmaker.

Sanctions bill on the floor

Senate Majority Leader John Thune, R-S.D., teed up the legislation last week for a cloture vote expected Tuesday evening. The bill carries sanctions on Russian President Vladimir Putin, Russian officials, and Russian military leaders. It levies tariffs of up to 500% on Russian imports, with secondary tariffs of up to 100% on countries still buying Russian energy. China and India are named among potential targets. A "national interest certification" requirement, added in the latest revision, governs President Donald Trump's authority to waive certain provisions. A separate new section targets Russia's "shadow fleet," the tankers that move Russian energy exports outside standard shipping channels.

The legislation went through multiple revisions on its path through the Senate. Sen. Richard Blumenthal, D-Conn., one of its architects, told Fox News Digital that he and a bipartisan group of colleagues had reworked the bill again, including renaming it in Graham's honor, a move pushed by his sister and newly appointed Sen. Darline Graham, R-S.C. The version Thune scheduled also incorporates sanctions against Iran.

Blumenthal quoted the late senator directly: "It's a big effing deal. We all did well. We all did good." He said those were among the last remarks Graham made to him before his death. "It's a huge achievement for him," Blumenthal added.

Memorial services in Washington

Graham's farewell in Washington began Tuesday morning in the Capitol Rotunda and continued with a private service at the National Cathedral. Zelenskyy met with senators in the morning, before the expected evening vote. Additional funeral services are scheduled in Graham's home state of South Carolina.

Rep. William Timmons, R-S.C., who described Graham as a close friend, recalled dozens of rounds of golf with the late senator. Timmons told Fox News Digital that public service was Graham's singular focus across the military and his years in Congress.

Path through the Senate

Thune said he had spoken with Senate Minority Leader Chuck Schumer, D-N.Y., and expected Democratic support on the procedural motion, though he acknowledged that some lawmakers had reservations about the bill. "I hope to, you know, the motion to get on it will be a very big bipartisan vote," Thune said. "And if it is, I think that will at least set up a path to get it done."

Blumenthal was measured. "I hope it passes. We're not there yet," he told Fox News Digital.

Keep reading

All bulletins →
EnergyJuly 28, 2026

Rand Paul says Graham Russia sanctions bill would cost Americans half a trillion dollars

WASHINGTON, July 28. Sen. Rand Paul put a price tag on the Senator Lindsey O. Graham Sanctioning Russia Act of 2026: half a trillion dollars, paid by American consumers, not Moscow. In a published opinion piece, Paul described the legislation as likely the largest tax increase a

2 min read
EnergyJuly 27, 2026

Kalshi traders expect Kevin Warsh to cite supply shock at this week's Fed press conference

WASHINGTON, July 28. Prediction market traders on Kalshi expect Federal Reserve Chair Kevin Warsh to mention last week's supply shock when he addresses reporters at this week's Federal Reserve press conference, according to data from the platform.

2 min read
EnergyJuly 26, 2026

Oil falls, U.S. stock futures rise as U.S.-Iran pause sends markets into Fed week

Oil prices tumbled and U.S. stock-index futures rallied Sunday after the United States and Iran suspended attacks on each other, repositioning markets ahead of a week that holds the Federal Reserve's policy meeting and earnings reports from major technology companies.

2 min read

Key takeaways

Frequently asked

Who was Lindsey Graham and what happened to him?

Lindsey Graham was a Republican senator from South Carolina who died at age 71 earlier this month; the Russia sanctions bill was renamed in his honor.

What tariffs does the sanctions bill impose?

The bill levies tariffs of up to 500% on Russian imports and secondary tariffs of up to 100% on countries still buying Russian energy, with China and India named as potential targets.

Which world leaders attended Graham's memorial services?

Israeli Prime Minister Benjamin Netanyahu and Ukrainian President Volodymyr Zelenskyy attended the services at the U.S. Capitol and the National Cathedral in Washington.

Is the bill expected to pass?

Thune expected a large bipartisan vote on the procedural motion, but architect Sen. Richard Blumenthal was measured, saying he hoped it would pass but 'we're not there yet.'

What role does President Trump have under the bill?

A 'national interest certification' requirement added in the latest revision governs President Donald Trump's authority to waive certain provisions of the legislation.