Trump Waives New Russia Sanctions and Tariffs Under Graham Act
President Donald Trump signed an executive order on Friday. The order waives sweeping sanctions and tariffs targeting Russia's energy sales.
CNBC reported that Trump cited national interest. He acted under the Graham Act.
The Associated Press reported that Ukraine's President Zelenskyy urged support for sanctions. Zelenskyy also criticized Trump's decision to pause the sanctions.
Trump signed the Graham Act into law in September. The law aimed to pressure Russia over its invasion of Ukraine.
It set tariffs of up to 100%. These targeted the top five importers of Russian oil or natural gas.
Klear Note — Sanctions restrict trade or money flows. Tariffs are taxes on imported goods. The law aimed to pressure Russia over its invasion of Ukraine.
Key Terms 4
- Graham Act A law signed in September to pressure Russia over its Ukraine invasion.
- Sanctions Penalties that limit trade or money flow with a country.
- Tariffs Taxes on goods imported from another country.
- Executive order A formal order issued directly by the president.