In context
Trump signs new sanctions law targeting Russian oil buyers
What changed: Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which authorizes tariffs of up to 100% on countries that keep buying Russian oil and gas and adds sanctions on Putin, senior Russian officials, banks and Russia's shadow tanker fleet. The New York Times reported that Russia warned the new law would harm Trump's peace efforts, while Trump retains broad waiver power over its provisions.
Why it matters: The law threatens major tariffs on China and India over their Russian oil purchases, which could ripple through global energy markets and trade relations if enforced. But Trump's wide waiver power means the sanctions' real world bite depends entirely on how he chooses to use that discretion, and Russia's warning suggests Moscow sees the law as a potential complication for the peace process Trump has been pursuing.
Whether Trump will actually use his waiver authority to soften or delay the sanctions, as the law allows on national interest grounds
Drawn from 2 reports (New York Times, BBC News)