# Trump Waives Russia Energy Tariffs as Crude Oil Reaches Five-Month High

- URL: https://stocks.freetheai.org/news/trump-waives-russia-energy-tariffs-as-crude-oil-reaches-five-month-high-85bfa1
- Published: 2026-10-17T06:30:06Z
- Category: energy; sentiment: bearish; impact: high
- Symbols: [NASDAQ:QQQ](https://stocks.freetheai.org/symbols/NASDAQ-QQQ)
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
- How write-ups are made: https://stocks.freetheai.org/how-we-write
- Not financial advice: https://stocks.freetheai.org/disclaimer

President Donald Trump issued an executive order on October 16 waiving the application of newly authorized sanctions and tariffs against Russia under the Lindsey O. Graham Sanctioning Russia and Iran Act. The waiver comes less than a month after the law was enacted and about a week after a bilateral agreement regarding diesel. The order waives key duty provisions and foreign person restrictions while maintaining earlier sanctions.

The policy decision coincides with a sharp increase in global energy prices. U.S. West Texas Intermediate crude oil futures rose 10.88% last week to $101.84 a barrel, while Brent crude futures climbed 4.91% to $109.69 a barrel. Stock indexes moved lower during late trading, with the Invesco QQQ Trust Series I (QQQ) declining 2.50%. Meanwhile, the executive order created a conditional tariff structure featuring a potential 500% duty on Russian goods and a 100% tariff on major foreign energy buyers making new Russian oil or gas purchases starting October 18.

Looking ahead, the U.S. Trade Representative, along with the State, Treasury, and Energy departments, will monitor foreign energy purchases and sanctions evasion to report developments regularly. The waiver will remain active until official determination indicates that further executive action is necessary.

## Key points

- President Donald Trump issued a waiver on new Russia tariffs authorized under the Graham Act.
- The executive order sets up potential standby tariffs of 500% on Russian goods and 100% on major energy importers.
- West Texas Intermediate crude futures surged 10.88% last week to $101.84 per barrel.
- Brent crude futures gained 4.91% to reach $109.69 per barrel.
- Federal agencies will monitor global Russian energy purchases and report evasion efforts.

## Questions and answers

### Why did President Trump waive the new tariffs on Russia?

President Trump submitted a required certification to Congress stating that waiving the Graham Act sanctions and tariffs was in the national interest of the United States.

### What conditional tariffs were established under the executive order?

The order sets up a 500% duty framework on Russian goods and a 100% tariff on products from top Russian crude and natural gas importers making new purchases on or after October 18.

### How did crude oil prices react during the week?

West Texas Intermediate crude futures jumped 10.88% to $101.84 a barrel, and Brent crude futures rose 4.91% to $109.69 a barrel.