President Trump Waives Key Tariff and Sanction Provisions of Russia Sanctions Act

President Donald Trump signed an executive order on October 16, 2026, waiving significant tariff and sanction provisions of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The waiver, certified to Congress as being in the national interest, is a 60-day pause to assess the impact on U.S. and global economies amid elevated global energy prices, particularly diesel, which has surged by 70% since February.