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Trump waives many Russia-related sanctions, tariffs before they were to take effect under new law - Finance news and analysis from Global Banking & Finance Review
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Trump waives many Russia-related sanctions, tariffs before they were to take effect under new law

Published by Global Banking & Finance Review

Posted on October 17, 2026

2 min read

· Last updated: October 17, 2026

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Trump Waives Major Russia Sanctions and Tariffs Ahead of Enforcement Date

Overview of Trump's Executive Order on Russia Sanctions

By Kanishka Singh and Jasper Ward

Background of the Sanctions and Tariffs

WASHINGTON, Oct 16 - US President Donald Trump said on Friday that he is waiving many sanctions, restrictions and duties days before they were to take effect under a bill that he signed into law last month.

Trump's Approach to Russia and Ukraine

Trump's executive order comes as he has been warming toward Russia and publicly criticizing Ukrainian President Volodymyr Zelenskiy, including suggesting that Ukraine needs a new leader.

Details of the Legislation

The legislation, whose primary backer in Congress was the late Senator Lindsey Graham, would have imposed tariffs of up to 100% within 30 days on all goods brought into the US from the five largest importers of Russian crude oil or gas, as well as any country that knowingly bought oil or gas 30 days after the law was enacted or was among the top five countries helping Russia evade sanctions.

Lindsey O. Graham Sanctioning Russia and Iran Act of 2026

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

Rationale and International Response

Trump's Justification for the Waiver

"I have submitted to the 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 released by the White House on Friday.

Concerns from Other Countries

Countries such as India, which is among the biggest buyers of Russian oil, have raised concerns about the Russia sanctions bill.

Reporting and Editorial Credits

(Reporting by Kanishka Singh, Jasper Ward and Patricia Zengerle in Washington; Editing by William Mallard and Sergio Non)

Key Takeaways

  • Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act into law on September 18, 2026, granting him authority to impose steep tariffs and sanctions—but also permitting waiver powers. (cbsnews.com)
  • On October 16, 2026, Trump used his waiver authority under Section 115 of the law to suspend many sanctions, restrictions, and duties before they took effect October 18, submitting a national‑interest certification to Congress. (whitehouse.gov)
  • The executive order drew scrutiny amid Trump’s recent warmer rhetoric toward Russia and criticism of Ukraine’s leadership, as well as concerns from energy‑importing nations like India. (theatlantic.com)

References

Frequently Asked Questions

What sanctions did President Trump waive regarding Russia?
President Trump waived many sanctions, restrictions, and duties related to Russian oil and gas imports before they were to take effect under a new law.
What was the purpose of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026?
The law aimed to impose tariffs of up to 100% on goods from countries importing Russian oil or gas, or helping Russia circumvent sanctions.
Why did President Trump grant the waiver on the Russia sanctions?
Trump stated that the waiver served the national interests of the United States, according to a certification submitted to Congress.
Which countries expressed concerns about the US Russia sanctions bill?
Countries such as India, a major buyer of Russian oil, raised concerns about the new US sanctions.
Who was the main backer of the Russia sanctions bill in Congress?
The late Senator Lindsey Graham was the primary backer of the sanctions legislation in Congress.

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