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US President Donald Trump signed an executive order on Friday exempting Russia from sanctions and customs duties targeting its oil revenues, after having signed them into law last month.
The Lindsey Graham Act, named after the late US Senator, granted Trump the authority to impose customs duties of up to 100% on major buyers of Russian oil and gas.
The executive order stated, "In accordance with the provisions of Article Four of this order, I have decided to suspend the application of the sanctions, restrictions, and duties stipulated in the Graham Act."
The law targets the Russian energy and defense sectors, President Vladimir Putin and other senior officials, as well as what is known as the "shadow fleet" of Russian oil tankers used to circumvent Western sanctions.
Trump's move came after he reached an agreement with Putin to resume Russian diesel exports in exchange for easing US sanctions on Moscow.
However, the agreement sparked dissatisfaction from Ukrainian President Volodymyr Zelenskyy, who described it as a "weak decision" and decided to resume attacks on Russian oil refineries, contrary to the US President's announcement.
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