President Donald Trump said Friday that he was waiving many sanctions and tariffs related to Russia under the Graham Act, a law he signed last month. The source report did not specify which measures were waived, how long the waiver would last, or which countries or goods would be affected.
The law, backed by the late Sen. Lindsey Graham, a South Carolina Republican, authorized sanctions of up to 100% on goods entering the United States from the largest importers of Russian crude oil and natural gas. It also provided for penalties against countries that knowingly purchased Russian oil, beginning 30 days after the law took effect, according to the report.
Trump characterized the waiver as serving the “national interests of the United States.” The report did not provide further explanation from the president or administration officials about the basis for that determination.
The announcement followed an agreement Trump made with Russian President Vladimir Putin. Under the arrangement, the Kremlin agreed to eventually release millions of tons of diesel onto the global market as prices were soaring, the source said. It did not give a timeline for those releases or explain how the diesel arrangement relates to the specific sanctions and tariffs now being waived.
The report attributed the information to Fox Business and noted that Reuters contributed. It did not include responses from lawmakers, other governments, or affected businesses, nor did it describe the law’s implementation before the waiver. The available account therefore leaves key details about the order’s reach and practical effect unclear.
