US President Donald Trump has waived sanctions and tariffs on Russia and those importing its oil and gas, delaying some of the most significant sections of a law he signed last month just days before they were set to come into effect.
In a Friday order, Trump informed Congress in a certification that the waiver was in the “national interest of the United States,” Reuters reports.
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 aimed to put more economic pressure on Moscow over its invasion of Ukraine. It allowed tariffs of up to 100 per cent on products purchased from major consumers of Russian oil and gas, as well as from countries said to be helping Russia circumvent sanctions.
The order also increased tariffs on Russian goods by 500 per cent, but suspended the imposition of the new tariffs and several sanctions requirements. They were set to take effect on Sunday, Oct. 18.
This decision comes as energy prices are being questioned and as Trump is moving to warmer relations with Russia while decrying Ukrainian President Volodymyr Zelenskyy.
India and China, both significant consumers of Russian oil, had expressed reservations about the sanctions legislation and how it might affect the trading relationship.
Until others such as Trump or other senior agency heads decide that the waivers are no longer needed, the orders will remain in place, the order said.
