President Donald Trump has suspended key Russia-related sanctions and tariff provisions days before they were due to take effect, easing potential economic pressure on Moscow as rising energy costs weigh on American consumers.

Trump Waives Russia Sanctions Under New Law

In an executive order released Friday, Trump said the waiver serves U.S. national interests. The exemption will remain in effect until he or senior administration officials determine that further action is warranted.

"I have submitted to the Congress a certification that the issuance of such a waiver at this time is in the national interests of the United States," Trump said in the order.

Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 in mid-September. The legislation was designed to pressure Moscow over its invasion of Ukraine, which began in 2022.

It authorized tariffs of up to 100% on goods from countries meeting specified criteria, including major buyers of Russian oil and gas and countries helping Moscow evade sanctions.

India, China Could Avoid Fresh Tariff Pressure

India and China, two of the largest purchasers of Russian oil, had raised concerns about the legislation's potential impact.

Beijing described it as "long-arm jurisdiction that lacks a basis in international law," while New Delhi warned that additional U.S. tariffs could damage bilateral relations.

The waiver could ease immediate trade concerns for these countries, although it does not eliminate existing U.S. sanctions against Russia.

Oil Prices, Midterm Elections Add Pressure

The decision comes as the U.S.-Israeli war on Iran has contributed to higher energy costs, raising concerns that further disruptions to global oil supplies could push prices higher.

With U.S. midterm elections approaching, rising fuel costs could also become a political challenge for Republicans seeking to retain control of Congress.

The waiver drew criticism from Rep. Don Beyer (D-Va.), who accused Trump of undermining congressional efforts to punish Moscow.

"Trump's latest surrender to Putin again betrays our Ukrainian partners and defies clear congressional intent," Beyer said.

Meanwhile, Russian President Vladimir Putin's investment envoy, Kirill Dmitriev, called the decision "a truly historic moment," arguing that the legislation could have effectively halted economic cooperation between Washington and Moscow.

According to the American Automobile Association (AAA), the national average price of regular gasoline is $4.3085 per gallon and premium is $5.2208.

Diesel prices are higher at $6.3276 per gallon, while E85 averages $3.3206 per gallon.