Trump to sign sanctions bill targeting Russia, Iran, impacting energy prices

President Trump is expected to sign a sanctions bill that could significantly impact global energy prices. The bill, named in honor of the late Sen. Lindsey Graham, targets both Russia and Iran, aiming to exert pressure over Russia’s actions in Ukraine while extending sanctions on Iran. The legislation allows for high tariffs on countries importing Russian oil and gas, potentially leading to increased global energy costs. Although the U.S. Senate has advanced the bill, it still requires final congressional passage before reaching Trump’s desk for signature. The potential imposition of new sanctions on Iran is being closely monitored by market participants, particularly in the context of a possible U.S.-Iran deal in 2026. With the prospect of higher energy prices and increased geopolitical tensions, markets appear to interpret these developments as decreasing the likelihood of a diplomatic resolution involving Iran within the year. Current pricing in prediction markets reflects this sentiment, with a decrease in the probability of an Iran Reconstruction Funding component being included in a U.S.-Iran deal. Key Takeaways Market activity suggests that the expected sanctions could decr...