Trump waives Russia sanctions in push for peace and lower prices

President Trump changed course on a new round of economic sanctions against Russia on Friday, signing an executive order waiving the measures just two days before they were scheduled to take effect.

Congress had passed the sanctions in September with bipartisan support, targeting Russian banks, political elites, and energy exports, along with potential tariffs on countries buying Russian oil.

Secretary of State Marco Rubio on Saturday said Trump’s waiver on Russia-related sanctions and tariffs will last up to 60 days, during which the White House will assess their economic impact, while Trump said a final decision has yet to be announced.

It continues a string of US dealmaking with Russia. On October 9, Trump struck a deal with Russian President Vladimir Putin to temporarily ease restrictions and allow 4.8 million metric tons of Russian diesel onto global markets, in a bid to lower fuel prices.

• Days later, Trump announced an “energy ceasefire” between Russia and Ukraine, saying both countries had agreed to stop attacking each other's energy infrastructure.
• But Ukrainian President Volodymyr Zelenskyy said he hadn't received details of the arrangement, and Kyiv subsequently accused Moscow of continuing its attacks.

Meanwhile…Ukraine has reported recent restrictions on Starshield, the military version of SpaceX’s Starlink’s satellite communication system, which have disrupted some of its drone operations.

SpaceX CEO Elon Musk said President Trump is “ultimately” responsible for any limits on Starshield speed or usage, though Trump and Secretary of State Marco Rubio deny ordering the restrictions.

Why ease Russia sanctions now?

The White House is arguing that delaying new economic sanctions will prevent the penalties from disrupting US efforts to negotiate a peace agreement between Russia and Ukraine. Trump on Sunday wrote that his decision-making was aimed at avoiding anything "that will drive, foolishly, Russia away from the ​bargaining table."

Trump has separately argued that bringing more Russian diesel onto global markets could help lower fuel prices for American consumers, as diesel prices currently hover near all-time highs.

On the flip side: Ukrainian President Volodymyr Zelenskyy and US lawmakers from both parties say lifting the threat of new sanctions on Russia gives Putin less incentive to negotiate, especially while Russian attacks on Ukraine continue.

• Energy analysts also question the potential benefits for American consumers, noting that the Russian diesel deal covers just ~1 day of global demand and is unlikely to meaningfully lower prices.
• Zelenskyy has warned that the move could encourage Moscow to push for further sanctions relief without making concessions toward peace.

From the front lines: Both sides continued exchanging airstrikes last week as the war rages on, with an emphasis on key energy targets in both countries. Zelenskyy reported at least 76 Russian attacks on energy and oil-and-gas facilities over the past week, while Ukraine struck oil facilities in St. Petersburg on Sunday.

Looking ahead…US and Ukrainian officials have discussed a possible meeting this week to review a new potential peace proposal, though no date has been confirmed.

Last night, the WSJ reported that Putin has proposed a summit with President Trump and Chinese President Xi Jinping next month to discuss the war in Ukraine, with US officials saying Trump hasn’t agreed to attend but could be open to the idea.

📊 Flash poll: In general, do you support or oppose easing sanctions on Russian diesel and other categories in an attempt to ease prices for US consumers?

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