President Trump waived a major package of new U.S. sanctions and tariffs targeting Russia just days before they were due to take effect. The measures included penalties tied to Russian oil and gas and potential tariffs on countries buying Russian energy. Trump said the waiver was in the U.S. national interest.
OQLIV Brief
Trump Pauses New Russia Sanctions Citing National Interest
Trump is trying to cool energy prices before the election, even if that means backing away from tougher Russia sanctions.
Why it matters
The move suggests Trump is putting energy prices and inflation ahead of increasing economic pressure on Moscow. Trump has been frustrated by high fuel prices and has also criticized Ukraine for strikes on Russian refineries. Lower energy prices could help inflation and markets ahead of the November midterms, but easing pressure on Russia could weaken Ukraine’s position. Reuters
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