Trump suspends numerous Russia sanctions as bipartisan backlash grows

what happened

US President Donald Trump signed an executive order on Friday suspending numerous Russian sanctions that Congress passed and signed into law in September. The measures aimed to increase economic pressure on Russia over its war in Ukraine, targeting financial institutions, senior officials and vessels used to get around oil export restrictions.

The broad waivers drew criticism from Democrats and some Republicans. Democratic Congressman Don Beyer said the decision betrayed Ukraine, and Republican Senator Ted Cruz called it a mistake. Kremlin economic envoy Kirill Dmitriev described the suspension as an "important and truly historic moment".

In France, violent clashes accompanied protests over the rising cost of living. According to the CGT union, an estimated 500,000 people joined 1,750 rallies across the country on Saturday, and police used tear gas and water cannons.

why it matters

For markets, the key question is whether the waivers ease pressure on Russian oil exports and financial flows. The political fight in Washington also adds uncertainty over future sanctions policy, while the unrest in France adds risk for European assets.

market impact

Oil and ruble: easing sanctions could raise Russian exports and weigh on Brent; euro at risk from French unrest

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