Trump waives many Russian sanctions, tariffs under new law backed by Lindsey Graham

Fox Business and CBS News report that President Donald Trump has set aside key parts of a new Russia sanctions law, a move that reverses years of U.S. efforts to squeeze Moscow's energy income. He did so by executive order on Friday, certifying to Congress that the step serves the national interests of the United States, according to Fox Business · CBS News.

The law is named for the late Sen. Lindsey Graham. CBS News says it threatened 100% tariffs on the world's five biggest buyers of Russian crude oil and natural gas, starting Sunday, and names China, India and Turkey among the main targets. It adds that Trump also waived 500% tariffs on Russian goods and halted certain other sanctions, and that the waivers last until administration officials decide further action is appropriate. Fox Business says earlier sanctions from past executive orders remain untouched.

Both outlets tie the decision to high fuel costs and to a diesel arrangement Trump reached with Russian President Vladimir Putin. Fox Business notes Republicans want lower prices before the midterms. CBS News reports that a bipartisan group of senators denounced the diesel waivers as a "betrayal of the people of Ukraine." Both also describe Trump's friction with Ukrainian President Volodymyr Zelenskyy.

Summarized by PolitiKool from Fox Business · CBS News and CBS News’s reporting. Read the full story at Fox Business · CBS News → Also at CBS News →