Trump waives tariffs on largest buyers of Russian oil

On October 16, 2026, President Donald Trump signed an executive order suspending new sanctions and tariffs on Russia just two days before they were set to take effect. The move effectively neutralizes the Graham Act, which aimed to clamp down more quickly on financial resources fueling Russia's war against Ukraine. This decision follows Trump's controversial announcement a week earlier that he had agreed to purchase diesel from Russia to lower global energy prices, despite potential negative impacts on Ukraine. The order gives the administration greater flexibility in deciding future sanctions without being bound by the law’s requirements. Trump’s actions have drawn criticism and raised questions about his stance on holding Russia accountable for its aggression towards Ukraine. Despite pressure, Trump refused to blame Russian President Vladimir Putin for starting the war. This decision comes amid growing concerns over gas prices and unpopularity of the war in Iran, affecting Trump's approval ratings ahead of crucial midterm elections. Republican lawmakers are now facing mounting pressure to maintain control of Congress under these circumstances. Meanwhile, Ukrainian President Volodymyr Zelensky had been urging swift action against Russia following Senator Graham’s sudden death earlier this year. The suspension of sanctions marks a significant shift in the U.S.’s approach towards Russia and its ongoing conflict with Ukraine.