Trump waives Russia energy tariffs and sanctions as crude hits five-month high
Trump waived new Russia sanctions and tariffs under the Graham Act, while WTI and Brent rose to multi-month highs, per Stocktwits.
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what happened
US President Donald Trump has suspended new sanctions and tariffs on Russia authorized by the recently enacted Lindsey O. Graham act. According to Stocktwits, his October 16 executive order keeps a framework in place for steep duties on Russian goods and on countries that keep buying Russian energy or help evade sanctions. Earlier Russia-related sanctions remain in force.
The order also sets out a tariff structure: a 500% duty on Russian goods and an extra 100% on the five largest buyers of Russian crude and natural gas if they make new purchases on or after October 18. The US Trade Representative must monitor such purchases and report regularly to the president.
Crude rallied in the same week. WTI for November delivery rose 10.88% to $101.84 a barrel, while December Brent gained 4.91% to about $109.69.
why it matters
For oil markets the key issue is uncertainty: tariffs on buyers of Russian crude could be switched on quickly, which could support prices and tighten supply. Investors should watch Washington's next steps and volumes of Russian crude purchases.
market impact
Oil: risk of reduced Russian supply supports Brent and WTI prices.
tags
instruments
sources
- Trump Waives Russia Energy Tariffs, Sanctions A Week After Diesel Deal As Crude Oil Prices Soar To A 5-Month High — stocktwits.com, 17 October 2026 at 06:30 UTC
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