Trump Pauses Russian Energy Tariffs of up to 100% and Graham Act Sanctions for 60 Days
Trump signed an executive order on October 16 pausing Russian energy tariffs of up to 100% and Graham Act sanctions, in a 60-day window Marco Rubio said was meant to analyze their impact.
US President Donald Trump signed an executive order on Friday, October 16, pausing major energy tariffs and sanctions on Russia mandated by the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, days before the law was due to take effect, according to China Daily, citing Xinhua and agencies.
The order freezes upcoming tariffs of up to 100% on the five largest importers of Russian crude oil and gas, along with restrictions targeting Russia's "shadow fleet" of oil tankers and its energy and defense sectors.
US Secretary of State Marco Rubio said on Saturday that the waiver of sanctions and tariffs would be a 60-day pause to "analyze" their impact on the global economy. China Daily quoted him as saying: "The president wants to take the 60-day period of time to sort of analyze what imposing both sanctions and tariffs will mean to the global economy and even to the US economy."
The move comes as markets monitor the suspension's effect on Russian oil flows and energy prices, while awaiting the outcome of the impact assessment within the specified window.
What do these terms mean?
Executive order: A decision issued directly by the head of state that directs the operation of government agencies, without passing a new law through parliament.
Shadow fleet: Older or unflagged cargo vessels that often operate outside traditional oversight and insurance to transport sanctioned oil.
Tariffs: Taxes levied on imported goods that increase their cost, sometimes used as a tool of economic pressure.
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