US President Trump waives major Russia sanctions and tariffs

US President Donald Trump signed an executive order waiving major energy tariffs and sanctions on Russia, mandated by the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, just days before the act was set to take effect. This decision, which freezes upcoming tariffs and restrictions on Russia's energy and defense sectors, is intended to allow for a 60-day analysis of the impact on the global and US economies. The move follows an agreement with Russia to release more Russian diesel into global markets and an energy infrastructure ceasefire between Russia and Ukraine, aiming to lower global energy prices.