US President Waives Tariffs on Large-Scale Buyers of Russian Oil and Gas
The move grants exemptions from hefty tariffs on Russian goods, effectively lifting certain sanctions imposed under a recently signed law aimed at pressuring Russia.
US President Donald Trump has chosen not to enforce tariffs on large-scale buyers of Russian oil and gas, despite new sanctions being set to take effect this Sunday. The tariffs, which would have reached 100% on imports from the world's five largest importers of Russian crude oil and natural gas, were part of a bipartisan law aimed at pressuring Russia.
The Lindsey Graham Sanctioning Russia Act was signed into law by Trump last month, giving him authority to waive certain sections if he deems it in America's national interests.
The US President waived key provisions of a recently signed law aimed at penalizing large buyers of Russian oil and gas. The move grants exemptions from hefty tariffs on Russian goods, effectively lifting certain sanctions.
The law in question targeted major consumers of Russian energy resources, including China, India, and Turkey. These countries were set to face significant penalties under the legislation, which was championed by late Senator Lindsey Graham before his passing.
A bipartisan group of senators has condemned the diesel waivers granted by President Trump as a "betrayal of the people of Ukraine". This move is seen as undermining efforts to pressure Russia and its key enablers, including China.
The senators argued that the exemptions from tariffs on Russian oil for the largest buyers would weaken their negotiating position in bringing an end to the conflict. The waivers were granted despite concerns raised by lawmakers about the impact on US sanctions policy against Russia.
Facts based on reporting originally published by CBS News Politics.
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