President Donald Trump has waived two key provisions of the new Graham Act, which targeted Russia's economy. Ukrainian President Volodymyr Zelenskyy condemned the move, while a Russian envoy praised it. Existing sanctions under earlier executive orders stay in place.
Trump signed an executive order late Friday waiving key parts of the new U.S. sanctions on Russia. The order waives two parts of the Graham Act two days before the law's implementation deadline.
What the waiver removes
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 required the president to raise duties on all Russian goods imported into the U.S. by up to 500% within 30 days of enactment. It also required tariffs of up to 100% on countries such as China and India that rank among the top five buyers of Russian crude oil or gas.
However, the order preserves existing sanctions on Russia under earlier executive orders. In the order, Trump wrote that he had submitted a certification to Congress that the waiver is in the national interests of the United States.
The move follows a separate step a week earlier, when the administration temporarily waived sanctions on Russian diesel exports through April 2027 to ease a supply crunch caused by the war in Iran.
Kyiv and Democrats object, Moscow welcomes it
Zelenskyy said on X that the decision "seems wrong to me" and that it helps only the Russians. He also said he expects further sanctions relief, saying the diesel deal and the Graham Act move are not the end of it.
Sen. Richard Blumenthal, a Connecticut Democrat who also drafted the Graham Act, condemned the waiver. Kirill Dmitriev, Russian President Vladimir Putin's economy envoy, called the suspension an important and truly historic moment and said U.S.-Russia economic dialogue will continue.
High fuel prices are a sensitive issue for voters ahead of midterm elections on Nov. 3.
Source: CNBC
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