Trump suspends Russia sanctions – no penalty tariffs for buyers of Russian oil
Shortly before they were due to take effect, US President Trump waived large parts of a new sanctions law. It foresaw tariffs of up to 100 percent on major buyers of Russian oil and gas.
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US President Donald Trump on Friday waived many sanctions, restrictions and duties under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 – two days before they were due to take effect, Reuters reported. The law, which Trump signed in mid-September, would have imposed tariffs of up to 100 percent within 30 days on goods from the five largest importers of Russian crude oil or gas. It also targeted countries knowingly buying Russian oil or gas and the five countries doing most to help Russia evade sanctions. In his certification to Congress, Trump said the waiver was currently in the national interest of the United States.
According to the Associated Press, the package had passed with large bipartisan majorities in the House and Senate after the sudden death of Republican Senator Lindsey Graham; Ukrainian President Volodymyr Zelenskyy had urged lawmakers to approve it. Countries such as India, a major buyer of Russian oil, had raised concerns about the law. About a week earlier, Trump had announced that the US would buy diesel from Russia to lower global energy prices. Reuters linked the decision to Trump's warmer rhetoric towards Moscow and his criticism of Zelenskyy.