President Donald Trump waived sweeping new sanctions against Russia passed by Congress, arguing in an executive order Friday that the move “is in the national interests of the United States.”
\n\nTrump had signed the legislation, named for the late Sen. Lindsey Graham, R-S.C., just last month. The bill took aim at Russia’s largest buyers of oil and gas, allowing the president to impose tariffs on goods from those countries, which may include China and India.
\n\nPassed with bipartisan support, the bill was intended to target Russia’s revenue streams as the country continues to wage its war against Ukraine. Suspending the sanctions provides Russia a financial lifeline.
\n\nTrump’s decision to put a hold on the sanctions package comes after he announced a deal with Russian President Vladimir Putin last week to release hundreds of thousands of tons of Russian diesel fuel onto the global market as fuel prices soar.
\n\nTrump has expressed frustration with Ukraine’s attacks on Russian oil and gas infrastructure and has blamed them for the increase in fuel costs while downplaying the impact of the Iran war on the oil market.
\n\nThe decision to waive the Russia sanctions drew swift condemnation from critics in Congress.
\n\nSen. Richard Blumenthal…
Original source: https://www.nbcnews.com/business