⚡ Key numbers:
- Up to 500% tariff on Russian imports was paused by the order
- Up to 100% duties waived on top buyers of Russian oil and gas
- 4.8 million metric tons of Russian diesel covered by a broader deal
- 109.86 USD per barrel for Brent crude amid global supply strains
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Executive waiver blocks sweeping trade penalties
Late Friday, President Donald Trump signed an executive order waiving major components of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. As reported by CNBC, the bipartisan law required the administration to raise tariffs on Russian imports up to 500% and impose secondary duties of up to 100% on top purchasers of Russian crude oil and natural gas, including China and India.
The statutory deadline to apply the trade measures was October 18. By submitting a formal certification to Congress, Trump halted the measures two days before implementation, asserting that issuing the waiver served national economic priorities.
“I have submitted to the Congress a certification that the issuance of such a waiver is in the national interests of the United States”
— Donald Trump, President of the United States (via CNBC)
Energy supply crunch and the diesel compromise
The sanctions suspension follows an announcement on October 9 regarding an arrangement to import 4.8 million metric tons of Russian diesel into the United States and partner nations. The plan aims to soften a global fuel shortage sparked by the conflict in Iran, waiving fuel export restrictions through April 2027.
Commodity desks remain on edge as Brent crude trades around 109.86 USD per barrel. Energy analysts cited by money.pl cautioned that incoming shipments of 300,000 tons and 500,000 tons may offer limited relief against an estimated global deficit of 1 million barrels per day.
Diplomatic reactions and congressional pushback
Russian officials welcomed the suspension. Presidential economic envoy Kirill Dmitriev stated on social media that pausing portions of the Graham Act represents a historic development for bilateral relations.
Conversely, lawmakers in Washington voiced sharp condemnation. Democratic Senator Richard Blumenthal, who co-drafted the legislation, argued that waiving the penalties undermines congressional intent and rewards Russian military efforts.
What to watch next
- Scheduled arrival of the initial 300,000 metric tons of Russian diesel shipments
- Congressional response from bipartisan sponsors of the Graham Act
- Price fluctuations in Brent crude and international refined fuel benchmarks
Frequently asked questions
What penalties were included in the Graham Act?
The legislation mandated tariffs up to 500% on Russian imports and up to 100% on the top five global buyers of Russian oil and natural gas.
Why did Trump pause the enforcement of the sanctions?
Trump certified to Congress that the waiver serves US national interests, pointing to refined fuel shortages caused by the war in Iran.
How much Russian fuel is scheduled for delivery?
The bilateral arrangement covers 4.8 million metric tons of diesel, beginning with over 300,000 tons followed by 500,000 tons in November.
Sources: CNBC, Bankier.pl, Business Insider Polska, money.pl, The Guardian, Yahoo Finance.
Disclaimer: This article is for information purposes only and does not constitute investment advice. Data as of Oct 17, 2026, 13:00 may vary by source. Trading leveraged CFDs carries a high risk of losing money.
