President Donald Trump has signed an executive order waiving sanctions, restrictions, and duties on the top five countries that purchase Russian oil and gas.
What happened
The order, issued on October 16, cites the national interest as the reason for the waiver. The sanctions were part of a law signed by Trump in September, which aimed to punish Russia for its war against Ukraine.
The law, known as the Lindsey O. Graham Sanctioning Russia Act, would have imposed tariffs of up to 100 percent on goods imported from the five major importers of Russian oil and gas, and up to 500 percent on Russian imports.
However, the law also gives the president the authority to waive any sanctions provision if it is deemed to be in the national interest. The waivers will remain in effect until the president or the secretary of state determines that further action is appropriate.
The move comes after Trump announced a deal with Russian President Vladimir Putin for Russia to supply diesel to the US in exchange for a temporary lifting of sanctions against Moscow.
