President Donald Trump signed an executive order on Friday waiving congressionally mandated sanctions and tariffs on Russia, just two days before they were scheduled to take effect. The move, which Trump stated was in the national interest, has drawn criticism from some lawmakers and Ukrainian President Volodymyr Zelenskyy.

This is the second time in recent weeks that the President has waived sanctions on Russia. The administration has indicated these actions are part of an effort to engage with Russian President Vladimir Putin to address rising diesel prices. The decision to waive the sanctions, which were passed by large margins in Congress, has created new tensions between the White House and Kyiv.

The law, named after the late Sen. Lindsey Graham, was designed to target Russian political figures, oligarchs, financial institutions, and the country's oil tanker fleet used to circumvent international sanctions. It included provisions for significant tariffs on Russian goods, including oil and gas, and penalties for entities and countries aiding Russia in evading sanctions.

The waivers signed by President Trump nullify every operative section of the law pertaining to Russia. This includes a requirement for tariffs of up to 500% on all Russian goods and up to 100% on major buyers of Russian oil and gas. Sanctions on foreign banks dealing with Russian state-owned banks, bans on purchasing Russian sovereign debt, and restrictions on U.S. investment and financial transactions related to the Russian government are also waived.

Last week, the Treasury Department issued a license authorizing the import of Russian diesel into the U.S. as part of a deal where Russia would supply large quantities of diesel to global markets. Without the waiver, this deal would have been subject to tariffs and sanctions under the new law.

Several senators, including Republicans Mitch McConnell, Thom Tillis, Susan Collins, and John Cornyn, had publicly urged President Trump to reject the diesel deal and implement the mandated sanctions. The President's order, however, does not affect existing sanctions imposed through prior executive orders but critically waives the statutory mandate that those sanctions remain in place, allowing for unilateral presidential action.

The waivers issued on Friday will remain in effect, signaling a significant departure from the congressional intent behind the Graham Act. The specific details provided by the President to Congress regarding the national interest justification for these waivers were not elaborated upon in the executive order.

The decision has sparked concern among those who believe stronger measures are needed to counter Russian influence and aggression. The implications for future U.S.-Russia relations and the broader geopolitical landscape remain a subject of ongoing debate.