Trump pauses sanctions package targeted at Russian economy

President Donald Trump signed an executive order on Friday to pause a sweeping sanctions package targeting the Russian economy, notifying Congress that the move was in the national interest. The executive order waives portions of the Lindsey O. Graham Sanctioning Russia Act, which was intended to restrict financial resources fueling the war against Ukraine.

According to CBS News, the president waived 500% tariffs on Russian goods and prevented 100% tariffs on the world's five largest importers of Russian crude oil and natural gas from taking effect. The South China Morning Post reports that while the implementation of these tariffs is suspended, the directive formally imposes them, allowing the president to apply them at a later time.

CBS News states that Trump is seeking to ease prices by tapping Russian energy, and has directed his administration to monitor countries that import Russian energy or attempt to evade sanctions. The South China Morning Post notes that the decision follows Trump's recent statement that the U.S. had agreed to purchase diesel from Russia to lower global energy prices.

Brief written by urgent.news from CBC News, CBS News, South China Morning Post — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.