WASHINGTON / AsiaWire.IO / – On Friday, October 16, President Donald Trump temporarily lifted key US sanctions and tariffs related to Russia, just days before their scheduled enforcement. The actions were authorized under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which Trump signed into law last month. In an executive order issued by the White House, Trump explained that the waiver aligned with national interests. The sanctions had been slated to begin on October 18, but no additional details regarding the decision were provided.
This legislation would have levied tariffs of up to 100% on all imports from the five leading countries importing Russian crude oil or natural gas. Additionally, any country that knowingly purchased Russian oil or gas 30 days after the law’s enactment would have faced the same tariffs. The law also targeted the top five nations aiding Russia in bypassing sanctions. Separate provisions permitted tariffs up to 500% on Russian goods, and sanctions on foreign banks with significant dealings with Russian state-owned banks were also waived.
According to the order, the waiver will stay in effect until Trump or his senior officials decide that further action is necessary. Existing sanctions imposed through previous executive orders remain unaffected. The law’s Russia-related provisions are set to expire in 2031. The White House stated on Saturday that the law grants the president additional powers to pursue peace, with spokesperson Taylor Rogers noting that enforcing sanctions at this time would hinder negotiations. Rogers added that the president retains the authority to use these powers at any moment.
Graham Act Gains Bipartisan Support in Congress
The late Senator Lindsey Graham, a Republican from South Carolina, was the primary champion of this legislation in Congress. Following Graham’s sudden death in July, lawmakers from both parties united behind the bill as a tribute to his legacy. The Senate approved the measure 86-11 on August 7, with the House passing the final version by 262-159 on September 16. President Trump signed it into law on September 18. The act aims at Russian officials, oligarchs, banks, and the shadow fleet of tankers used to evade sanctions.
The waiver faced criticism from members of both political parties. Republican Senator Thom Tillis of North Carolina criticized the move as beyond irresponsible, while Senator John Cornyn of Texas stated that Graham would be appalled by this decision. Democratic Senator Chuck Schumer of New York called the arrangement with Moscow a deal with the devil. Conversely, Republican Representative Thomas Massie, who voted against the bill, welcomed the waiver. Ukrainian President Volodymyr Zelenskyy argued that the decision only benefits Russia and does not contribute to ending the war.
Energy Strategy Influenced by Russian Diesel Agreement
Trump’s decision followed his announcement that the US had agreed to purchase diesel from Russia to help lower global energy prices. The Treasury Department’s Office of Foreign Assets Control issued a general license through April, allowing the sale and import of Russian diesel. This arrangement would see Russia supplying hundreds of thousands of tons of diesel to US and international markets. Without the waiver, the law would have mandated tariffs on Russian petroleum products and sanctions on ships transporting them.
Diesel prices have surged this year, with the US national average reaching a record $5.88 per gallon in September. Expectations of increased Russian diesel supply also contributed to a decline in oil prices last week, as the dollar retreated from an 18-month high. Earlier in the week, Senators Mitch McConnell, Thom Tillis, Susan Collins, and John Cornyn urged Trump to rescind the diesel deal. This waiver marks the second occasion in two weeks where Trump has bypassed Russia sanctions. Americans will vote in the midterm elections on November 3.