Trump Suspends Sanctions On Buyers Of Russian Energy Under Graham Act
Trump invoked a provision of the law allowing the President to waive the sanctions provided for under the legislation.
“I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act. I have submitted to the Congress a certification that the issuance of such a waiver at this time is in the national interests of the United States,” he said.
Trump's executive order formally imposes the tariffs provided for by the law but immediately suspends their implementation.
The law stipulated that within 30 days, the President must impose 100% tariffs on all goods from the five countries that purchase the largest amounts of Russian oil. The legislation also provided for sanctions against a number of Russian entities and 500% tariffs on all Russian energy imports into the United States. The deadline for implementing these provisions was October 18.
At the same time, Section 115 of the Graham Act gives the President the authority to waive the sanctions, restrictions, and tariffs. The President must submit a written certification to Congress stating that the issuance of such a waiver is in the national interests of the United States, as well as a report explaining the grounds for the decision.
The law does not allow previously announced sanctions to be lifted.
The law conflicts with Trump's agreement with Russian President Vladimir Putin on exporting Russia's diesel fuel reserves to global markets. Waiving the tariffs could trigger a new wave of criticism from members of Congress, including Republicans angered by the Trump-Putin diesel deal.
Read also: Republicans in Congress push back against Trump's diesel deal with PutinAs reported by Ukrinform, this week, senators from both parties signed a letter urging the President to cancel the agreement with Putin and implement the provisions of the legislation drafted by the late Republican Senator Lindsey Graham, who advocated increased pressure on Russia over its full-scale invasion of Ukraine.
Photo: The White House
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