Trump waives new Russia sanctions citing US national interests

Citing national interests, US President Donald Trump has signed an executive order waiving the newly enacted sanctions against Russia under the legislation known as the Graham Act (White House press release, 16/10/2026).

The order suspends several planned Russia-related sanctions, including tariffs on Russian imports and penalties targeting countries purchasing Russian oil and gas. The legislation would have introduced the following measures:

• The president would have been required to raise tariffs on all Russian goods imported into the US by up to 500%, no later than 30 days after the law’s enactment.
• It would also have imposed tariffs of up to 100% on all goods imported into the US from the five largest importers of Russian crude oil or gas, including China and India.
• The legislation could further have imposed 100% tariffs on goods from countries found to have knowingly purchased Russian oil or gas 30 days after the law took effect, or on the five countries deemed to be helping Moscow circumvent sanctions on its oil exports the most.

The waiver was issued two days before the deadline for the law to take effect.

Earlier in October 2026, Trump also announced an agreement to release Russian diesel stocks onto global markets in an effort to curb energy prices, which had surged amid the US-Israel war on Iran. The US Treasury Department waived sanctions on Russian diesel sales until April 2027.

High fuel prices remain a sensitive issue for voters ahead of the 3 November 2026 midterm elections. Trump’s Republican Party holds narrow majorities in both chambers of Congress.