Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 in mid-September.

WASHINGTON: US President Donald Trump has waived key Russia-related sanctions and tariffs just days before they were due to take effect under legislation he signed last month, including penalties targeting countries that purchase Russian oil and gas.

In an executive order released by the White House on Friday, Trump said the waiver was in the national interest of the United States.

The legislation was designed to increase pressure on Russia over its invasion of Ukraine, which began in 2022. However, Trump has recently shown a warmer approach towards Moscow while publicly criticising Ukrainian President Volodymyr Zelenskiy, including suggesting that Ukraine needs a new leader.

Sanctions Could Have Increased Oil Prices

The decision comes weeks before the US midterm elections, as Trump’s Republican Party seeks to maintain its narrow majorities in both chambers of Congress.

Analysts have warned that the proposed measures could have pushed oil prices higher at a time when Americans are facing rising costs, partly attributed to the US-Israeli war on Iran.

The legislation, primarily backed in Congress by the late Republican Senator Lindsey Graham of South Carolina, would have imposed tariffs of up to 100% within 30 days on goods imported from the five largest buyers of Russian crude oil or gas. It also targeted countries that knowingly purchased Russian oil or gas after the law’s enactment or were among the five leading countries helping Russia evade sanctions.

Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 in mid-September.

Trump Says Waiver Is in US National Interest

The executive order stated that the waiver would remain in effect until Trump or senior administration officials determine that further action is appropriate.

“I have submitted to Congress a certification that the issuance of such a waiver at this time is in the national interests of the United States,” Trump said in the order.

The law allows the president to waive the sanctions by notifying Congress that their implementation is not in the national interest.

China and India, two of the largest buyers of Russian oil, have expressed concerns about the legislation. Beijing has opposed what it described as the use of extraterritorial jurisdiction without a basis in international law, while India has warned that additional tariffs could affect bilateral relations with Washington.

Democrats Criticise Trump’s Decision

US Representative Don Beyer, a Virginia Democrat, criticised the waiver, accusing Trump of yielding to Russian President Vladimir Putin.

“Trump’s latest surrender to Putin again betrays our Ukrainian partners and defies clear congressional intent of legislation designed to punish Russia for its illegal war of aggression,” Beyer said in a statement.

Trump has also faced criticism from several US senators, including some Republicans, over a recent diesel deal with Russia. Under the arrangement, Washington agreed to lift sanctions on Russian exports, while Moscow agreed to supply diesel to global markets in an effort to reduce fuel prices.

Critics of the deal argued that easing restrictions on Russian exports could help finance Moscow’s war effort in Ukraine.

Russia Welcomes Sanctions Waiver

Kirill Dmitriev, Russian President Vladimir Putin’s investment envoy, welcomed Trump’s decision, describing the waiver as a “truly historic moment.”

In a post on X, Dmitriev said the legislation could effectively have brought economic cooperation between Russia and the United States to a halt.

The waiver delays the implementation of key measures intended to increase economic pressure on Russia, while leaving the possibility of further action open to the US administration.