President Trump issued an executive order waiving newly passed congressional sanctions on Russia on 17 October 2026, citing national interest. The move pre-empted multiple Russia-related sanctions and tariffs that were scheduled to take effect under new legislation, reducing previously imposed trade restrictions. The decision was reported amid escalating tensions with Ukrainian president Zelenskyy, whom Trump has publicly criticised.
The waiver directly affects Russian rouble-denominated markets and energy equities. The Moscow Exchange (MOEX) lists major Russian state-linked energy and financial companies whose access to international trade flows is materially shaped by the sanctions regime now paused. Gazprom, as a principal Russian natural gas exporter previously subject to the suspended restrictions, has a direct operational connection to the scope of the waiver.
The EURUSD currency pair reflects the euro-dollar exchange rate most directly exposed to shifts in European energy import dynamics linked to Russian supply policy, while USDRUB captures the bilateral exchange rate between the US dollar and the Russian rouble, both of which are materially connected to the sanctions framework now suspended.
President Trump framed the waiver as a national interest determination. No official congressional response countering the executive order was cited in available reporting as of 17 October 2026.
Sources: Guardian Business, news.google.com, Bloomberg Markets