US President Waives Key Russia-Related Sanctions and Tariffs Ahead of Deadline

Reuters

US President Donald Trump and Russia's President Vladimir Putin during a meeting at the G20 leaders summit in 2019.

US President Donald Trump has waived key sanctions and tariffs targeting Russia just days before they were due to take effect under legislation he signed last month.

In an executive order released by the White House on Friday, Trump said the waiver was in the national interest of the United States. The measures included tariffs on Russian goods and penalties for countries purchasing Russian oil and gas.

The legislation was designed to increase pressure on Moscow over its invasion of Ukraine, which began in 2022. However, Trump has recently adopted a more conciliatory approach towards Russia while publicly criticising Ukrainian President Volodymyr Zelenskyy, even suggesting that Kyiv needed a new leader.

Analysts have warned that implementing the measures could have pushed oil prices higher, adding to the financial pressures facing Americans amid rising costs largely attributed to the US-Israeli war on Iran.

Under the legislation, tariffs of up to 100% would have been imposed within 30 days on goods imported into the US from the five largest purchasers of Russian crude oil or gas. The measures would also have targeted countries that knowingly purchased Russian oil or gas 30 days after the law's enactment, as well as those among the five countries providing the most assistance in helping Russia evade sanctions.

The order said the waiver will remain in effect until Trump or his top officials determine that "further action is appropriate."

"I have submitted to the Congress a certification that the issuance ‌of ⁠such a waiver at this time is in the national interests of the United States," Trump said in the order.

Countries such as China and India, which are among the biggest buyers of Russian oil, have raised concerns about the Russia sanctions bill.

Beijing has said it "consistently opposed long-arm jurisdiction that lacks a basis in international law" while India warned Washington that new tariffs could impact bilateral ties.

The law allows the president to waive sanctions simply by informing Congress that he has determined that ⁠they are not in the national interest.

Putin's investment envoy, Kirill Dmitriev called Trump's waiver "a truly historic moment," posting on X that the legislation could have effectively brought all economic cooperation between Russia and the US to a halt.



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