Trump waives Russian sanctions and tariffs under Graham Act

President Donald Trump on Friday waived many Russian-related sanctions and tariffs under the Graham Act, a law he signed last month, citing U.S. national interests. The waiver follows a deal with Russian President Vladimir Putin, under which the Kremlin agreed to release millions of tons of diesel into the global market amid soaring prices. The law had mandated sanctions of up to 100% on goods from major importers of Russian crude oil and gas. The Graham Act was backed by the late South Carolina Sen. Lindsey Graham, and the waiver applies to countries that knowingly bought Russian oil. Reuters contributed to this report.