Photo. Benjamin D Applebaum / Wikimedia Commons
US President Donald Trump has announced the waiving of certain sanctions and tariffs on Russia under the so-called Lindsey Graham Act, which he signed in September. The American leader cited US national interest as the reason.
Trump announced the decision in an executive order published on Friday evening on the White House website.
The act, named after the late Senator Lindsey Graham, codified existing sanctions against Russia and encouraged the president to impose further ones, including on the ‘shadow fleet’. Primarily, it granted him new powers to impose tariffs of up to 100 per cent on countries among the top five importers of Russian oil and gas, as well as those that most significantly facilitate the circumvention of oil restrictions. The tariffs were due to be increased by 18 October.
In the decree, the president announced that he is waiving the application of tariffs that would affect importers of Russian oil, as well as tariffs on goods imported from Russia to the USA, including oil, gas, and petroleum products (which were set to be increased to a level of 500 per cent).
Trump stated that he has submitted a statement to Congress, in which he asserted that issuing such a waiver at this time is in the national interest of the United States.
Last Friday, 9 October, the US President announced that he had reached an agreement with Russian leader Vladimir Putin regarding the import to the United States and other countries of a total of 4.8 million tonnes of Russian diesel fuel over the next few months. This also means a suspension of sanctions on Russian fuel until April 2027. The US President’s decision has sparked criticism among both Democrats and some Republicans.