Trump waives sanctions and tariffs on Russian energy purchases

U.S. President Donald Trump has issued an executive order waiving sanctions, restrictions, and duties on the purchase of Russian oil and gas, citing national interest. Mr. Trump released the order on Friday evening, stating that he also submitted a formal certification to Congress regarding the decision. The measures had been established under the Lindsey O Graham Sanctioning Russia and Iran Act, which empowered the president to impose sweeping penalties on Moscow and heavy tariffs on major buyers of Russian energy, including China and India.

Context

Sanctions and tariffs are economic tools used by governments to influence the behavior of other countries by restricting trade or penalizing specific industries. In this case, the legislative framework directly targeted major global purchasers of Russian petroleum products.