Trump waives key Russia sanctions and tariffs under new Graham Act
President Trump issued an executive order blocking portions of a recently signed sanctions law from taking effect, citing US national interests amid efforts to lower fuel prices.
Washington2 min read
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President Donald Trump signed an executive order on 16 October 2026 waiving key provisions of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 before they took effect. The law, which Trump signed in mid-September, was set to impose tariffs of up to 100 percent on goods from the five largest importers of Russian crude oil or gas and additional sanctions on Russian officials, banks and shipping.
In the order, Trump stated that the waiver is in the national interests of the United States and that he has submitted a certification to Congress. The waivers remain in effect until the administration determines that further action is appropriate. The law would have targeted countries including China and India for continued purchases of Russian energy.
The decision follows an agreement announced the previous week under which the United States would import Russian diesel to help lower domestic fuel prices ahead of the November midterm elections. Oil prices had risen in recent weeks, with reports of tech stocks losing more than $1 trillion in value on one day as crude approached $110 a barrel.
A bipartisan group of lawmakers had written to Trump urging full implementation of the law, describing it as necessary to pressure Russia over its invasion of Ukraine. The primary congressional sponsor, Senator Lindsey Graham, died in July.
Trump has in recent weeks publicly criticized Ukrainian President Volodymyr Zelenskyy and discussed energy supplies with Russian President Vladimir Putin. Ukraine has resumed strikes on Russian refineries after a period of restraint, with Zelenskyy stating that Kyiv was "done" with certain energy truce arrangements.
The Graham Act also contained provisions for 500 percent tariffs on Russian goods in some cases. Those were among the measures waived. Existing sanctions from prior executive orders remain in place.
India and China have raised concerns about the potential secondary effects of the law. The waiver removes immediate pressure on buyers of Russian oil ahead of the 18 October deadline that would have activated certain duties.
