Law360 (October 18, 2026, 6:17 PM EDT) -- President Donald Trump signed an executive order to suspend Russian sanctions and tariff provisions contained in a law passed earlier this year by Congress in response to Russia's ongoing war in Ukraine.

Trump's order, signed late Friday, suspends U.S. sanctions, tariffs and business investment restrictions that would have applied to Russian individuals, businesses and imports. The news followed Trump's announcement this month that he had struck a deal with Russia for the country to temporarily release diesel oil in exchange for the U.S. lifting associated sanctions. The deal is an attempt to curb rising fuel costs, a result of the wars in Ukraine and Iran.

H.R. 5334, the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which Trump signed in September soon after its passage in the U.S. House of Representatives, codified a variety of economic sanctions on Russian financial institutions, government officials and businesses.

Section 115 of the law grants Trump the ability to issue waivers to suspend any certain of the law's sanctions, restrictions and duties as long as he submits a report to Congress explaining the reasons for the move.

The legislation also imposed prohibitions on U.S. exports of energy products and financial services to Russia, as well as blocks on U.S.-based investments in that country and purchases of Russian uranium. The measure also extended until 2031 a sanctions bill on Iran set to expire this year.

With regard to tariffs, the bill authorized a new levy of up to 500% ad valorem on all Russian goods entering the U.S.

Additionally, the bill allows Trump to impose tariffs of up to 100% on goods imported from countries found to be supporting the Russian economy through purchases of that country's energy products, including natural gas and crude oil.

Those countries must meet a series of requirements before the tariffs could be imposed, including making purchases after the legislation's enactment and being among the top five purchasers of Russian oil and gas over 12 months before the bill's passage, according to the bill's text.

The secondary tariff won't apply if the country purchasing oil from Russia accounts for less than 15% of the total Russian oil and gas exports or has met other criteria listed in the bill, including making efforts to reduce their dependence on that country's oil and gas products, according to the bill.

Speaking to NBC on Sunday morning, Treasury Secretary Scott Bessent said that the law gives Trump the "flexibility" with the waiver provision to take up to 60 days to assess the situation. Bessent said that while Trump has been clear he wants the conflict to end, he is also trying to address the immediate shock of rising fuel costs.

Bessent said that the European Union has given more resources to Russia and its President Vladimir Putin through continued oil purchases than it has provided support for Ukraine.

"They continue to gorge on Russian energy," he said.

Bessent said that earlier this year, the U.S. sought to coordinate with EU nations on tariffs on countries found to be supporting Russia and its war efforts through oil purchases, but EU counterparts would not join those efforts.

"Why should the U.S. bear the burden?" Bessent asked. 

The House's top Democratic lawmaker on the Ways and Means Committee, Rep. Richard E. Neal, D-Mass., slammed Trump for signing the executive order in a statement issued Saturday, saying the move is detrimental to U.S. allies.

"In America, standing with our allies in Europe against Putin's aggression is an ironclad commitment to peace and democracy and shouldn't be optional," Neal said. "But when it matters most, Donald Trump has shown he'll abandon our partners and undermine our own laws to cozy up to tyrants and benefit himself."

Neal added that Democratic lawmakers in Congress tried to warn Republicans about giving Trump new sanction and tariff powers in the legislation.

"Every Republican outraged by this capitulation should be reminded that it's only possible because they continue to sit idly by and allow our values and partnerships to be eroded as they refuse to hold this Administration to account," he said. "Surrendering to tyrants may fly under Republican control, but Democrats stand with our allies and will provide the accountability this moment demands." 

The White House and a spokesperson for the European Commission didn't immediately respond to requests for comment. 

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