US President Donald Trump has suspended sanctions and tariffs proposed under a new law targeting Russia and major buyers of its oil and gas, citing American national interests. The decision comes as rising energy costs put pressure on the administration ahead of the November midterm elections.

In an executive order issued Friday evening, Trump said he had certified to Congress that waiving the measures was in the US national interest.

The Lindsey O. Graham Act, signed into law by Trump on September 18, was designed to increase economic pressure on Moscow over its invasion of Ukraine. It authorises the president to impose sweeping sanctions on Russia and steep tariffs on countries that continue to buy Russian energy, including India and China.

Tariffs of up to 500% suspended

The law provided for duties of up to 500% on Russian goods, alongside 100% tariffs on imports from the five largest buyers of Russian crude oil and natural gas if they knowingly made new purchases of Russian-origin supplies on or after October 18.

It also envisaged an additional 100% duty on goods from the five biggest facilitators of Russian oil sanctions evasion. Trump's order waives the application of these measures for now.

India, a major buyer of Russian crude, had warned that further US tariffs could strain bilateral ties. New Delhi has maintained that its energy purchases are guided by the need to secure reliable and affordable supplies. China had also opposed the proposed penalties.

Rising fuel costs drive decision

The waiver comes as the US faces higher energy costs amid the ongoing US-Israeli war on Iran. Enforcing the tariffs risked disrupting supplies and pushing oil prices higher before the November elections.

Trump has also faced criticism over a recent arrangement allowing Russian diesel exports to resume to help increase global supplies and ease fuel prices. Critics, including US lawmakers, argue that the exports could generate revenue for Moscow to finance its war in Ukraine.

US Representative Don Beyer accused Trump of undermining Ukraine and weakening efforts to penalise Russia for its invasion.

Rubio's India visit puts energy ties in focus

The decision comes ahead of US Secretary of State Marco Rubio's planned visit to Mumbai and Jamnagar, home to Reliance Industries' major refining complex.

US Ambassador to India Sergio Gor described the trip as more business-focused. Speaking on Thursday, Gor said Rubio would hold meetings in Mumbai before travelling to Jamnagar to meet Reliance Industries officials.

Gor also highlighted Reliance's plans to establish a refinery in the US, which he described as the first in 50 years. The visit comes as Washington seeks to address domestic energy concerns while managing its approach to Russian oil supplies and the war in Ukraine.

US to monitor Russian oil purchases

Trump's order directs the US Trade Representative, working with other senior officials, to monitor countries' purchases of Russian oil and gas and efforts to help Moscow evade sanctions.

Officials must report developments to the president and identify circumstances that could justify further action. The waiver will remain in effect until Trump or the relevant administration officials determine that additional measures are warranted.

The order also clarifies that the suspension does not affect sanctions imposed under earlier executive orders concerning Russia.