The ‘Big Money in the Morning’ panel examined President Donald Trump’s announcement of a Russian diesel agreement, an energy ceasefire between Russia and Ukraine, and previewed the upcoming midterm elections as the president and Vice President JD Vance campaigned in Ohio.
President Donald Trump announced on Friday that he was waiving numerous sanctions and tariffs related to Russia under a new law backed by the late Senator Lindsey Graham of South Carolina.
The Graham Act, signed by Trump last month, would have imposed sanctions of up to 100% on goods imported into the United States from the largest importers of Russian crude oil and gas, as well as from countries that knowingly purchased Russian oil within 30 days of the law’s enactment.
Views of the St. Petersburg Oil Terminal, one of Russia’s largest terminals for the transshipment and storage of petroleum products in the Baltic region. (Stringer/SOPA Images/LightRocket via Getty Images, File / Getty Images)
Trump’s executive order follows a deal he reached with Russian President Vladimir Putin, under which the Kremlin pledged to release millions of tons of diesel into the global market as prices climb sharply.
Trump stated that the waiver was in the “national interest of the United States.”
Reuters contributed to this report.
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