Trump signs Russia sanctions bill, allowing up to 100% tariffs on oil buyers

US President Donald Trump signed a bill on Friday that authorises new sanctions on Russia’s energy and defence sectors, targets its shadow fleet of sanction-busting tankers, and gives him authority to impose tariffs of up to 100% on major buyers of Russian oil and gas—potentially covering China and India. The Republican-led House passed the package 262-159 on Wednesday after months of congressional delay.

For Nigeria, Africa’s top oil producer, the move matters because any restriction on Russian crude can shift global supply and influence world oil prices. Higher prices could boost the nation’s export earnings, while tighter markets may also push up domestic fuel and transport costs. The bill also expands sanctions on Iran, another country with which Nigeria trades.

Ukrainian President Volodymyr Zelensky welcomed the legislation as "an extremely powerful tool" to pressure Moscow into peace, while India said it would continue buying Russian oil through diversified sourcing. The signing comes a week before Trump is set to meet Chinese President Xi Jinping in Washington.

Will the anticipated oil-price uplift from these sanctions improve Nigeria’s budget outlook, or will the resulting market tightness raise your household fuel and transport expenses?

SOURCE: https://www.channelstv.com/2026/09/19/trump-signs-bill-authorising-sweeping-russia-sanctions/