Diesel prices have become a growing political concern ahead of the November 3 midterm elections
US President Donald Trump has waived several sanctions, restrictions and duties targeting Russia under the Graham Act, just weeks after signing the legislation aimed at squeezing Moscow over its invasion of Ukraine.
The move comes as his administration seeks to bring down soaring diesel prices ahead of November’s midterm elections.In an executive order issued on Saturday, Trump invoked a provision of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 that allows the president to waive its measures in the national interest. He said he had submitted the required certification and a report explaining the basis for the decision to Congress.The order waives duties provided for under Sections 112 and 113 of the Act, sanctions and restrictions under Section 102(d), and several other provisions covering sanctions against foreign persons and restrictions on individuals. The waivers will remain in effect until Trump or the secretary of state, in consultation with other officials where appropriate, determines that further action is necessary.The move follows Trump's announcement that the US would purchase Russian diesel after he held what he described as a “highly successful discussion” with Russian President Vladimir Putin.
Trump said Moscow had agreed to supply more than 300,000 tonnes of diesel immediately, followed by additional shipments in November and subsequent months.“Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!” Trump said on Truth Social.The US president added that lowering fuel costs for Americans, particularly farmers, ranchers and truckers, was his “Greatest Priority”.Diesel prices have become a growing political concern ahead of the November 3 midterm elections. Prices reached a record $6.52 a gallon in September and were around $6.28 on Friday, putting pressure on businesses and consumers.Under the executive order, the US Trade Representative, in consultation with other senior officials, will monitor countries' purchases of Russian crude oil and natural gas, as well as efforts to evade sanctions, and report developments to the president. The order also provides for additional duties of 500% on Russian goods, subject to specified exceptions and waivers, and 100% on goods from certain major importers of Russian energy and facilitators of sanctions evasion.The shift also comes after Washington repeatedly pressured India to curb its purchases of Russian energy, using tariff threats to push New Delhi to reduce its reliance on Moscow.