President Donald Trump signed an executive order on October 16 implementing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 while simultaneously waiving major sanctions and tariffs under the legislation.
The order establishes a framework for tariffs of up to 500% on Russian goods and 100% on goods from major purchasers of Russian oil and gas, subject to specified conditions and waivers.
The waivers remain effective until the president or designated officials determine that further action is appropriate.
The decision prompted bipartisan criticism in Congress on October 17, while the administration cited U.S. national interests as the basis for the waiver. The White House
Primary source: White House — Executive Order, October 16
Why it matters strategically
The executive order creates an important distinction between statutory authority and actual enforcement.
The sanctions framework exists.
However, significant provisions have been waived.
This means companies may avoid immediate additional costs while remaining exposed to future enforcement.
The commercial consequences depend on how quickly the waivers could be withdrawn and whether affected companies would have sufficient time to adjust.
