Trump waives Graham Act sanctions on Russia

US President Donald Trump signed an executive order waiving certain sanctions, restrictions, and tariffs on Russia mandated by the "Graham Act," according to the White House. The order suspends the application of these measures, citing US national interests. The waiver specifically targets 500% tariffs on Russian energy imports and 100% secondary tariffs on major buyers of Russian oil, which were set to take effect by October 18. Trump used a waiver provision in the law, which was initiated by the late Senator Lindsey Graham as a response to Russia's invasion of Ukraine. The move aligns with Trump's plan to cooperate with Russian leader Vladimir Putin to bring Russian diesel supplies to global markets, aiming to lower record-high US diesel prices ahead of the November 3 elections. The decision risks backlash from Congress, including Republicans, but avoids conflict with major Russian energy buyers like China, India, and Turkey.