President Donald Trump has yet to finalize a decision on Russia-related sanctions and tariffs he waived Friday, leaving their future unclear on Saturday, weeks before the midterm elections.
Trump signed an executive order Friday waiving the application of several duties, sanctions and restrictions under the Graham Act, which he signed last month. The measures included tariffs on Russian goods and penalties on countries buying Russian oil and gas. They were due to take effect next week.
“A lot of you don’t know what my decision is yet, but we’ll figure it out, and you’ll figure it out,” Trump told reporters at his Mar-a-Lago club in Florida.
60-Day Review Could Affect Energy Markets
Secretary of State Marco Rubio told reporters before boarding a plane for Uzbekistan that Trump could take up to 60 days to assess the economic impact. The order did not specify the waiver’s length.
He said the review will weigh what the measures mean “to the global economy and even to the US economy.”
Rubio also defended a separate agreement with Russia to boost diesel supply. Trump said Russia would initially send more than 300,000 metric tons to the United States, with more shipments in November and beyond.
Escalating conflict in the Middle East has disrupted global oil flows, adding to pressure on Trump over high energy prices. Brent crude closed Friday at $109.86 per barrel, its highest level since May 20.
Rubio also defended a separate agreement with Russia to boost diesel supply. Under this agreement, Russia would initially send more than 300,000 metric tons to the United States, with more shipments in November and beyond.
He said the diesel would be sold regardless. Rubio added, “The only difference is how much of it the United States was going to get.”
Bipartisan Pushback on Sanctions Waiver
The Senate passed the Graham Act by an 86-11 vote. The law is intended to pressure Moscow over its war in Ukraine and targets countries importing Russian energy through sanctions and tariffs on goods. Rubio flagged India as a complication, given its status as a US partner and its continued heavy reliance on Russian oil.
Ukrainian President Volodymyr Zelensky warned the waiver would embolden Russian President Vladimir Putin.
Opposition to the waiver has crossed party lines, with lawmakers from both parties criticizing Trump’s decision to ease Russia-related sanctions, arguing it could undermine pressure on Moscow over its war in Ukraine.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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