WASHINGTON / AsiaWire.IO / – President Donald Trump waived key Russia-related US sanctions and tariffs on Friday, October 16, days before they were due to take effect. The measures came under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which Trump signed into law last month. In an executive order released by the White House, Trump said the waiver served the national interests of the United States. The penalties had been scheduled to start on October 18. The order gave no further explanation for the decision.
The legislation would have imposed tariffs of up to 100% on all goods entering the US from the five largest importers of Russian crude oil or natural gas. The same penalty would have applied to any country that knowingly bought Russian oil or gas 30 days after the law was enacted. It also targeted the top five countries helping Russia evade sanctions. The law separately allowed tariffs of up to 500% on all Russian goods. Sanctions on foreign banks doing significant business with Russian state-owned banks were also waived.
The order said the waiver will remain in effect until Trump or his top officials determine that further action is appropriate. Sanctions imposed earlier by executive order are not affected. The law’s Russia provisions are set to expire in 2031. The White House said in a statement on Saturday that the law gives the president additional authorities to pursue peace. Spokesperson Taylor Rogers said enforcing the sanctions now would impede negotiations. Rogers added that the president can use those authorities at any time.
Graham Act passed Congress by wide margins
The late Senator Lindsey Graham, a South Carolina Republican, was the primary backer of the legislation in Congress. Graham died suddenly in July, and lawmakers from both parties rallied behind the bill as part of his legacy. The Senate passed the measure 86-11 on August 7. The House approved the final version 262-159 on September 16. Trump signed the act on September 18. It targets Russian officials and oligarchs, banks and the shadow fleet of tankers used to evade sanctions.
The waiver drew criticism from lawmakers in both parties. Republican Senator Thom Tillis of North Carolina called the move beyond irresponsible. Senator John Cornyn of Texas said Graham would be appalled by the decision. Democratic Senator Chuck Schumer of New York described the arrangement with Moscow as a deal with the devil. Republican Representative Thomas Massie, who voted against the bill, welcomed the waiver. Ukrainian President Volodymyr Zelenskyy said the decision helps only Russia and does not stop the war.
Russian diesel deal shapes energy push
Trump’s decision came a week after he said the US had agreed to buy diesel from Russia to help bring down global energy prices. The Treasury Department’s Office of Foreign Assets Control issued a general license through April for the sale and import of Russian diesel. Under the arrangement, Russia would supply hundreds of thousands of tons of diesel to the US and global markets. Without the waiver, the law would have required tariffs on Russian petroleum products and sanctions on ships carrying them.
Diesel prices have climbed sharply this year, with the US average reaching a record $5.88 per gallon in September. Expectations of more Russian diesel supply also weighed on oil last week, as the dollar retreated from an 18-month high. Senators Mitch McConnell, Thom Tillis, Susan Collins and John Cornyn had urged Trump earlier in the week to rescind the diesel deal. The waiver is the second time in two weeks that Trump has set aside Russia sanctions. Americans vote in the midterm elections on November 3.