Trump waives sanctions, tariffs on purchase of Russian oil and gas

US President Donald Trump has issued a waiver from sanctions, restrictions and duties under the Sanctioning Russia and Iran Act, citing national interest. “I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act,” Trump said in an executive order issued on Friday evening. Trump said he had submitted to Congress a certification that issuing such a waiver at this time is in the national interest of the United States. Trump's announcement came, just a month after the House of Representatives passed an act giving him the power to levy up to 100% tariffs on the top 5 purchasers of Russian energy.Trump also waived a number of sanctions targeting Russia and its economic partners on national-interest grounds until further notice.
The waivers follow a series of conciliatory moves toward Russia ahead of the midterm elections on November 3 in which Trump’s Republican Party is widely expected to perform poorly. Concerns about affordability, inflation, and the cost of living, driven in part by high domestic energy prices, are playing a key role in eroding voter support for President Trump. On 9 October, Trump announced a deal with Russia that could see Moscow supply roughly 5 million tonnes of diesel to global energy markets over the coming months. The US Treasury issued a general license on the same day, allowing global buyers to purchase Russian diesel without sanctions until 7 April 2027.
The American leader has also repeatedly expressed frustration with Ukraine for military strikes on Russian oil refineries, which Washington has blamed for the increase in global energy prices. Despite the waivers, Trump’s executive order also directs the US Trade Representative and several senior cabinet officials to monitor the import and purchase of Russian crude oil and natural gas, as well as the facilitation of Russian sanctions evasion by countries.