On October 17, 2026, U.S. President Donald Trump announced the cancellation of new sanctions against Russia that were outlined in the Graham law. This decision was justified by "national interests of the USA".
Details of the Graham Law
The law, signed by Trump on September 18, included significant tariffs on Russian goods and sanctions for countries purchasing Russian oil and gas. Specifically, it included:
- 500% tariff on goods from Russia;
- 100% tariff on goods from the five largest countries purchasing Russian oil and gas;
- sanctions against countries aiding in circumventing oil sanctions.
Impact on Existing Sanctions
It is important to note that Trump's order does not repeal existing U.S. sanctions against Russia. It also does not pertain to the Iranian portion of the law. Thus, while new sanctions will not be implemented, the current restrictions remain in effect.