Zelenskyy says Trump's decision to waive new sanctions on Russia "seems wrong"

President Donald Trump signed an executive order on October 16, 2026, suspending key provisions of the Sanctioning Russia and Iran Act (also known as the Graham Act) that had sought to impose punitive tariffs on countries purchasing Russian oil. This decision came two days before a self-imposed deadline set by the law itself for its implementation. Trump justified his action, stating it was in the national interest and would allow time to analyze the potential impacts of sanctions on both the global and U.S. economies over a 60-day period.

Critics from both Republican and Democratic parties argue that easing sanctions could bolster Russia's financial resources, enabling continued support for its war against Ukraine without effectively mitigating global energy prices, which are largely influenced by Trump’s ongoing conflict with Iran.

Secretary of State Marco Rubio elaborated on the rationale behind the waiver during a press conference on October 17, explaining it as an opportunity to evaluate the broader economic ramifications. He emphasized that various international conflicts were converging and affecting oil and diesel prices globally, including America's war on Iran and attacks by Yemen’s Houthis against Saudi Arabia.

Trump has faced significant backlash for his decision, with lawmakers expressing concern over its implications for Ukraine and global stability. However, Trump maintains a positive stance, asserting that the move is beneficial for both the country and the world at large. The outcome of this 60-day suspension remains uncertain as debates continue regarding its potential effects on economic and geopolitical landscapes.