Trump waives broad new Russia sanctions and tariffs under Graham Act, citing national interest – CNBC

Trump waives broad new Russia sanctions and tariffs under Graham Act, citing national interest  CNBC

Trump signed the Graham Bill, which targeted Russia over its invasion of Ukraine, into law in September. President Donald Trump signed an executive order late Friday waiving parts of a recently enacted package of sanctions aimed at curbing Russia's ability to prosecute its war against Ukraine. "I have submitted to the Congress a certification that the issuance of such a waiver is in the national interests of the United States," Trump wrote in Friday's order. The House passed the Russia sanctions bill on Sept. 16, and Trump signed it into law two days later. The bill was introduced over a year ago, and its primary backer was the late Lindsey Graham, a veteran Republican senator who represented South Carolina.

Titled the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, the legislation targeted Russia's economy, intending to penalize the country over its continued full-scale invasion of Ukraine. The act required the president to increase duties on all Russian goods imported into the U.S. by up to 500% no later than 30 days after enactment. It also required Trump to impose tariffs of up to 100% on countries including China and India that are among the top five purchasers of Russian crude oil or gas. Trump's latest order waives these two parts of the Graham Act and comes two days