Trump waives many Russian oil sanctions, tariffs

President Donald Trump on October 16, 2026 signed an executive order waiving sanctions, restrictions, and duties under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which he signed last month. The law authorizes tariffs of up to 100% on goods from the top five purchasers of Russian oil and gas, including India and China, after a 30-day window. Trump wrote: "I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act. I have submitted to the Congress a certification that the issuance of such a waiver at this time is in the national interests of the United States." The waiver suspends tariff implementation but leaves Trump able to reimpose the measures at will. The law tasks the U.S. Trade Representative, with the Secretaries of State and Energy, to identify the top five importers of Russian crude and gas every 180 days. The order followed a deal with Vladimir Putin for Russia to release millions of tons of diesel into global markets, and Trump's earlier announcement the U.S. agreed to buy Russian diesel to push down energy prices. CONTESTED: No contested claims appear in the sourced record.