Washington: President Donald Trump on Friday signed an executive order that puts on hold a sweeping new sanctions package targeting the Russian economy, telling Congress the pause was in the national interest.
Trump personally signed the legislation just last month. Named after late South Carolina Senator Lindsey Graham, it had sought to clamp down more quickly on the flow of financial resources fuelling the war against Ukraine. Graham died in July but had advocated for stricter US sanctions against Russia as a way of pressuring it to end its war in Ukraine. His colleagues in Congress responded with bipartisan support after his death and Trump attached his signature to the legislation – then changed his mind on Friday.
The law gave Trump broad powers to levy tariffs of up to 100% on the top five purchasers of Russian oil and gas – most significantly China and India. Additionally, the law includes sanctions against Russian President Vladimir Putin, senior figures within the Russian government as well as banks and other financial institutions and Russia's "shadow fleet" of tankers used to circumvent existing sanctions.
Trump's unexpected move comes a week after he stunningly said the US had agreed to purchase diesel from Russia to try to bring down global energy prices, despite that potentially hurting Ukraine in its war with Russia. The plan shocked lawmakers and has triggered a bipartisan backlash.
On Thursday, a bipartisan group of 20 US lawmakers issued a letter calling on Trump to respect the new law, which was due to take effect on 18 October. The lawmakers thanked Trump for signing the sanctions bill and urged his "full and faithful implementation" of the law. The lawmakers said it would be "decisive in forcing Putin to take peace talks seriously" and called on the Trump administration "to apply the Graham law's sanctions to their fullest extent and without delay".
A poll by the AP-NORC Centre for Public Affairs Research published on October 1 found that Americans disapprove of the president's handling of the Iran war and blame him for higher prices. Trump's approval ratings have sunk to near-historic lows and pressure is mounting as Republicans try to hold control of both chambers of Congress on Election Day on November 3.