His remarks came a day after US President Donald Trump signed an order exempting Russia from the 2026 Lindsey O. Graham Act on sanctions against Russia and Iran. Dmitriev said the Graham Act had effectively halted economic cooperation between Russia and the United States, causing significant damage to the US economy and global markets.
“President Trump’s decision to suspend enforcement of the Graham Act is truly a historic moment,” Dmitriev said. “Instead of sanctions and confrontation, the two countries can engage in dialogue, pursue mutually beneficial cooperation and share responsibility for global stability.” The Lindsey O. Graham Act was signed into law on September 18. It was designed primarily to strengthen sanctions against Russian officials, banks and the country’s energy and defense sectors.
However, just before the law was due to take effect on Sunday, October 18, Trump signed an order waiving its implementation. He said he had submitted a notice to Congress confirming that the waiver was in the national interest at this time, along with a report explaining the basis for the decision. The order makes clear, however, that the waiver does not affect sanctions against Russia imposed under previous executive orders. The White House has yet to disclose specific details of the rationale behind the decision. Ukraine and European countries quickly voiced concern over Washington’s stance on the conflict in Ukraine.
Analysts say the decision to waive the new sanctions suggests the Trump administration is weighing its efforts to pressure Russia against domestic priorities related to energy supplies and prices.
