President Donald Trump has suspended broad sanctions and tariffs targeting Russia and major purchasers of its oil and natural gas, days before the measures were due to begin. The executive order, signed Friday, cited the national interest and followed a certification and explanatory report submitted to Congress.
The law would have raised duties by 500% on Russian goods and imposed additional tariffs of up to 100% on goods from the five largest importers of Russian crude oil and natural gas when they made new purchases after Oct. It also targeted countries helping Russia evade oil sanctions and authorized sanctions on Russian officials, banks, financial networks and the tanker fleet used to move energy.
The waivers will remain in effect until Trump or designated cabinet officials decide that further action is appropriate. The order did not eliminate older Russia-related sanctions that were already in force.
The administration has linked its Russia policy to elevated energy prices, which have risen amid the war with Iran and political pressure over affordability.
The suspended law was named for the late Sen. Lindsey Graham, a Republican from South Carolina who had pushed for stronger economic pressure on Moscow before his death in July. China, India and Turkey were among the major Russian-energy buyers the legislation was designed to pressure.
The move drew criticism from lawmakers in both parties. Richard Blumenthal said the waivers abandoned the position taken by Congress and U.S. Rick Scott, Thom Tillis and John Cornyn also objected to easing pressure on Russia.
Ukrainian President Volodymyr Zelenskyy called the suspension unfortunate and said the law could have substantially helped Ukraine. Kirill Dmitriev, an envoy to Russian President Vladimir Putin, praised the decision as a historic moment.