Trump waives new Russia sanctions as relations with Ukraine slump

US President Donald Trump signed an executive order on Friday waiving sweeping sanctions and tariffs targeting Russian energy revenues. This reversal comes days before the measures were set to take effect under the Lindsey Graham Act, a law Trump signed last month that would have allowed for duties of up to 100 percent on major buyers of Russian oil and gas. The legislation targeted Russia’s energy and defense sectors, President Vladimir Putin, senior officials, and the shadow fleet of tankers used to evade sanctions.

Channel News Asia and Dawn report that the reversal follows a deal struck between Trump and President Putin to ease sanctions in exchange for Moscow releasing large amounts of diesel into global markets. SABC News notes that Trump stated the waiver was in the national interest of the United States. The policy shift marks a low point in diplomatic relations between Washington and Ukraine, occurring as President Volodymyr Zelensky urges EU leaders to provide nearly $80 billion more in financing for Kyiv next year.

The move arrives ahead of US midterm elections next month. According to SABC News, analysts suggest the new measures could have risked further raising oil prices while Americans face increased costs attributed to the US-Israeli war on Iran. Dawn further reports that the president's war in Iran has caused oil shortages and price spikes, creating headwinds for the Republican Party.

Brief written by urgent.news from Daily Times, Channel News Asia, Dawn, SABC News, Ukrinform - Politics — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.