President Donald Trump waived nearly all new sanctions, restrictions and tariffs under the Graham Act on Oct. 16, two days before they were due to begin, while Secretary of State Marco Rubio said the administration would use up to 60 days to assess their economic effects.
The law, signed in September, was intended to increase pressure on Russia over its war in Ukraine and allowed steep tariffs on Russian goods and on major buyers of Russian oil and gas. Trump’s order said he had certified to Congress that suspending the measures was in the U.S. national interest, but did not specify how long the waiver would last. Rubio said the review would weigh possible effects on both the global and U.S. economies, as energy prices face pressure amid conflicts disrupting supplies.
The tariffs could have reached 500% on Russian goods and 100% on goods from certain major purchasers of Russian energy. Trump’s decision suspends those new provisions, while existing sanctions imposed under earlier authorities remain in place. The waiver drew criticism from Ukrainian President Volodymyr Zelenskyy and lawmakers who argued that easing pressure could benefit Moscow and weaken efforts to push it toward negotiations.
The move also followed a separate temporary easing of restrictions on Russian diesel exports, amid concerns about fuel costs and supply.