Trump waives tariffs on largest buyers of Russian oil, days before Lindsey Graham-backed law was set to take effect

October 16, 2026 / 10:38 PM EDT / CBS News

President Trump prevented some new sanctions on Russia and hefty tariffs on large-scale buyers of Russian oil from taking effect late Friday, waiving portions of a bipartisan law aimed at pressuring the Russian government — as Mr. Trump seeks to ease prices by tapping Russian energy.

Tariffs of 100% on the world's five largest importers of Russian crude oil and natural gas were set to take effect on Sunday under the Lindsey O. Graham Sanctioning Russia Act, which Mr. Trump signed late last month. But the law gives the president the authority to waive portions of the law if he certifies to Congress that halting the sanctions is "in the national interests of the United States," a provision that Mr. Trump invoked in an executive order Friday.

The president said he sent a notification to Congress.

He also waived the law's 500% tariffs on Russian goods, and halted certain other sanctions on Russia. He said the waivers will remain in place until administration officials "determine that further action is appropriate," and directed members of his administration to "monitor" countries that import Russian energy or evade sanctions.

The law — championed…

Original source: https://www.cbsnews.com/entertainment/