Updated

The U.S. House of Representatives voted to pass sweeping sanctions legislation targeting Russia, a bill informally associated with Senator Lindsey Graham, putting the measure on a path to becoming law. The legislation reflects continued congressional pressure on Moscow amid the ongoing war in Ukraine. The bill's passage marks a significant legislative milestone after months of negotiation over the scope and timing of new sanctions. Markets are watching for potential economic and energy-sector ripple effects should the measure be signed into law.