• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos sold his Seattle mansion for a record $63 million before Washington passed a millionaires tax—he now lives in a $237 million Miami compound

2

Despite making over $200,000 a year, many NFL referees still hold full-time jobs as attorneys, aerospace engineers, and college professors

3

Startup Abby Care raises $82 million to turn family members into paid caregivers

1

Jeff Bezos sold his Seattle mansion for a record $63 million before Washington passed a millionaires tax—he now lives in a $237 million Miami compound

2

Despite making over $200,000 a year, many NFL referees still hold full-time jobs as attorneys, aerospace engineers, and college professors

3

Startup Abby Care raises $82 million to turn family members into paid caregivers
PoliticsRussia

Congress passed the Russia sanctions bill named for Lindsey Graham with bipartisan support. Trump just put it on hold a month after signing it

By
Will Weissert
Will Weissert
,
Meg Kinnard
Meg Kinnard
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Will Weissert
Will Weissert
,
Meg Kinnard
Meg Kinnard
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
October 17, 2026, 10:01 AM ET
President Donald Trump welcomes Russian President Vladimir Putin to Joint Base Elmendorf-Richardson on August 15, 2025 in Anchorage, Alaska.
President Donald Trump welcomes Russian President Vladimir Putin to Joint Base Elmendorf-Richardson on August 15, 2025 in Anchorage, Alaska. Getty Images
Google source logo
Add Fortune on Google for similar content.

President Donald Trump on Friday signed an executive order that puts on hold a sweeping new sanctions package targeting the Russian economy, telling Congress the pause was in the national interest.

Recommended Video

Trump personally signed the legislation just last month and his move came just two days before a deadline set in the law itself for its implementation. It drew shift condemnation from congressional Democrats.

Named after late South Carolina Sen. Lindsey Graham, the legislation had sought to clamp down more quickly on the flow of financial resources fueling the war against Ukraine.

Trump’s unexpected decision comes a week after he stunningly said the U.S. had agreed to purchase diesel from Russia to try to bring down global energy prices, despite that potentially hurting Ukraine in its war with Russia.

An AP-NORC Center for Public Affairs Research poll published Oct. 1 found that Americans disapprove of the president’s handling of the Iran war and blame him for higher prices. Trump’s approval ratings have sunk to near-historic lows and pressure is mounting as Republicans try to hold control of both chambers of Congress after midterm elections on Nov. 3.

Sanctions were seen as part of Graham’s legacy

Graham, a close ally and friend of the president, had just returned from Ukraine when he unexpectedly died in July. He had advocated for stricter U.S. sanctions against Russia as a way of pressuring it to end its war in Ukraine.

His colleagues in Congress responded with bipartisan support after his death and Trump attached his signature to the legislation — then changed his mind Friday.

The package had been meant to starve Russian President Vladimir Putin of the resources Moscow needs to continue its war in Ukraine after invading its neighbor more than four years ago. The bill, also drafted by Sen. Richard Blumenthal, D-Conn., had sought to sanction Russian officials, banks and a shadow fleet of tankers that keeps Russian energy moving.

It also directed Trump to impose up to 100% tariffs on the top five importers of Russian oil or natural gas, with an exception for countries that import less than 15% of Russia’s natural gas exports and have taken significant steps to reduce those imports.

Blumenthal said in a statement that Trump was turning his back on “the majority of Americans, their representatives in both houses of Congress, and our European allies.”

“These waivers have nothing to do with our national security, and everything to do with sucking up to Vladimir Putin,” Blumenthal said.

Democratic Virginia Rep. Don Beyer noted on social media shortly after the announcement of the sanctions being suspended that he and others had “warned” Trump might make such a move. The veteran congressman, who spoke out against the bill as it was debated, called on Congress to “fix this flawed law to stop Trump from capitulating to Putin and ensure that it truly supports Ukraine.”

The White House did not immediately explain how pausing the sanctions was in the national interest. The decision was posted on the White House website late in the evening, and the notification noted that the report explaining the decision had been submitted to Congress.

Still, it comes as Trump has increasingly lashed out at Ukrainian President Volodymyr Zelenskyy, blaming him for failing to make a deal with Putin to end the fighting.

The Trump administration, meanwhile, had remained mostly quiet since the passage of the bill with large majorities in the House and Senate following Graham’s sudden death — with lawmakers urged ahead by Zelenskyy.

Trump’s action follows announced diesel deal with Putin

Under last week’s agreement, Trump said Russia would immediately supply more than 300,000 tons of diesel, followed by an additional 500,000 tons in November and 1 million tons “immediately thereafter.”

Trump’s striking a diesel deal with Putin has been pilloried by Republicans and Democrats alike who say it will help Russia execute its war against Ukraine — without making a different to global fuel prices, which are elevated mostly due to Trump’s war on Iran.

The sanctions that Trump has now suspended, meanwhile, also had become a campaign centerpiece for Sen. Darline Graham, the late senator’s sister who was appointed to serve out the remaining months in his current term. She is now running to replace him in the Senate more permanently.

Darline Graham said in a statement after Trump signed the bill, “I wish Lindsey were here to celebrate this historic day.” In a debate earlier this week with Democratic nominee Annie Andrews, Graham — who has Trump’s endorsement and is expected to campaign with him in South Carolina next week — said she had been “so proud” to help get the measure passed.

She acknowledged, however, that it was the president’s purview as to how he implemented it.

“It gives the president tools that he can use if he so chooses, to end the war through economic sanctions,” Graham said Sunday during a debate in Columbia. “So that’s up to him as to whether or not he wants to use it, or whether he wants to use something else, but I think the purpose of it is to bring down the gas prices and ultimately end the war. And when the war ends, gas prices will fall.”

Fortune Daily breaks the traditional barrier between audience and newsroom. The show transforms Fortune’s trusted reporting into actionable, conversational, and entertaining insights for an emerging class of business leaders. Watch here.
About the Authors
By Will Weissert
See full bioRight Arrow Button Icon
By Meg Kinnard
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Google source logo
Add Fortune on Google for similar content.

Latest in Politics


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Recommended For You

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.