US President Donald Trump has waived sanctions, restrictions and duties under the Sanctioning Russia and Iran Act of 2026, citing US national interest. The decision came a day before the proposed 100% tariffs on major buyers of Russian oil were due to take effect.

“I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act,” Trump said in an executive order issued on Friday evening.

Trump said he had submitted a certification to Congress confirming that the waiver served US national interests. The Lindsey O. Graham Act, signed into law on September 18, authorises the US president to impose sweeping sanctions on Moscow and steep tariffs on major buyers of Russian oil and gas, including India and China.

The law aimed to increase economic pressure on Russia over its invasion of Ukraine, which began in February 2022. It proposed duties of up to 500% on Russian goods and 100% tariffs on goods from the five largest importers of Russian crude oil and natural gas if they knowingly purchased Russian-origin supplies on or after October 18. It also envisaged an additional 100% duty on goods from the five biggest facilitators of Russian oil sanctions evasion. Trump has waived these duties.

India, a major buyer of Russian oil, had warned Washington that additional tariffs could harm bilateral ties. New Delhi has maintained that its energy purchases aim to secure reliable and affordable supplies. China had also opposed the proposed measures.

The waiver comes as the US faces rising energy costs amid the ongoing US-Israeli war on Iran. Higher tariffs risked pushing oil prices further up and increasing pressure on American consumers ahead of the November midterm elections.

Trump has also faced criticism over a recent agreement allowing Russian diesel exports to resume to boost global supplies and ease fuel prices. Critics, including some US senators, warned that the move could generate revenue for Moscow to fund its war in Ukraine.

US Representative Don Beyer criticised Trump's latest decision, accusing him of undermining Ukraine and weakening congressional efforts to punish Russia for its invasion.

US Secretary of State Marco Rubio's upcoming visit to Mumbai and Jamnagar adds another dimension to Washington's energy concerns. Jamnagar hosts the world's largest refining complex. Rising diesel prices and Ukrainian strikes on Russian oil refineries have increased the focus on global fuel supplies.

US Ambassador to India Sergio Gor described Rubio's trip as “a little more business-focused”. Speaking on Thursday, Gor said Rubio would hold several meetings in Mumbai before travelling to Jamnagar to meet officials from Reliance Industries.

Gor also highlighted Reliance's plans to open the first refinery in the US in 50 years.

The executive order directs the US Trade Representative and other senior officials to monitor countries' Russian oil and gas purchases and efforts to help Moscow evade sanctions. Officials must report developments to Trump and identify circumstances that could warrant further action. The waiver will remain effective until Trump or relevant administration officials decide otherwise. It does not affect sanctions imposed under earlier executive orders targeting Russia.