Trump Suspends Sanctions Against Russia Under Graham Act

US President Donald Trump has suspended the imposition of sanctions and tariffs against Russia provided for under the "Graham Act." Reuters reports this based on an executive order issued by the president.

According to the order, suspending the implementation of these sanctions and tariffs is in the US national interest.

"Under this law or order, I am suspending the application of any tariffs provided for under Articles 112 and 113 of the Graham Act. I have submitted a report to Congress that such an exception is in the national interest of the United States," the Trump executive order says.

Under the law, the president was required to impose sanctions and tariffs within 30 days of signing, that is, by October 18. Trump signed the law on September 18.

The authors of the law are the late Senator Lindsey Graham (Republican Party) and Senator Richard Blumenthal (Democratic Party). The document provides for tariffs of 500% on Russian goods, as well as tariffs of 100% for the five largest importers of Russian oil and natural gas.