Trump signs bill extending sanctions on Russia and Iran

Under the law, existing US sanctions on Iran have been extended. The scope of sanctions, tariffs and other restrictions on Russia has also been widened.

The US House of Representatives had passed the sanctions bill earlier this week.

The law includes sanctions on Russian officials, financial institutions and other entities. It also covers measures related to Russia’s energy and trade sectors. In addition, the US president has been given the authority to impose tariffs of up to 100 per cent on major importers of Russian oil and natural gas.

Under the resolution, the 1996 Iran Sanctions Act has also been extended by five years. The US authority to impose sanctions on Tehran has been retained.