Trump waives sanction threat over Russian oil purchases

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US President Donald Trump gestures as he attends a MAGA Inc. dinner at Mar-a-Lago resort, in Palm Beach, on October 16, 2026 | Photo Credit: Reuters

U.S. President Donald Trump has issued a waiver from sanctions, restrictions and duties under the Sanctioning Russia and Iran Act, citing national interest.

“I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act,” Mr. Trump said in an executive order issued on Friday (October 16, 2026) evening.

Mr. Trump said he had submitted to Congress a certification that issuing such a waiver at this time is in the national interest of the United States.

The Lindsey O Graham Sanctioning Russia and Iran Act empowered Trump to impose sweeping sanctions on Moscow and slap steep tariffs against the world’s largest purchasers of Russian oil and gas, including China and India.

Donald Trump / Russia / USA / oil and gas - upstream activities / oil and gas - downstream activities

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