Why It Is Time for the West to Crush Putin’s War Economy

Russians walk past a Neftmagistral gas station pylon which shows that there is no gasoline at the station in Moscow on July 10, 2026. —Igor IVANKO-AFP via Getty Images The death of Senator Lindsey Graham is a devastating blow to his family, his constituents, his colleagues in government, but also a profound setback for the resolution of global conflicts involving Ukraine and Russia, Israel and Iran. Graham’s unflinching stand on military support of Ukraine and Israel was a vital intervention in the corridors of American power. Graham introduced the Sanctioning Russia Act of 2025, to tighten sanctions against Russia, with strong bipartisan support and the apparent blessing of President Donald Trump. To be sure, while the United States holds a major lever here, the loyal support Ukraine has received from the European Union has helped strengthen Ukrainian morale and muscle on the battlefield. Yet still, much more could be done by the bloc. The Graham sanctions legislation under consideration would impose 500% secondary tariffs, property-blocking sanctions on any financial institution owned by Russia or by individuals within the Russian government, and further banking sanctions. This Sanctioning Russia Act , perhaps soon to be renamed the Lindsey Graham Act in his memory, would deal a serious blow that could, at last, end Vladimir Putin’s bloody and imperialistic invasion of Ukraine. Last week in Ankara, NATO leaders gathered for the ritual family photo and once again pledged unwavering support for Ukraine. It was a convergence of principled respect for the survival of a sovereign, peaceful neighboring nation and of mutual self-interest in the face of Putin’s imperial agenda. The final communiqué was resolute, with defense budgets of NATO members finally rising and continued, generous humanitarian support for Ukraine celebrated with warm, shared applause. Yet despite all of this critical support, the West has had the power to end this war long ago—and at relatively mode