WASHINGTON (AURN News) — President Donald Trump has waived planned Russia-related sanctions and tariffs that were set to begin taking effect Oct. 18, but the decision does not guarantee lower gasoline or diesel prices for American families.
Secretary of State Marco Rubio said Saturday that Trump plans to take up to 60 days to assess the potential economic impact of imposing the waived sanctions and tariffs.
The executive order does not set an expiration date for the waivers, which will remain in effect until Trump or the secretary of state determines further action is appropriate.
Trump said he waived the sanctions to avoid driving Russia away from negotiations aimed at ending the war in Ukraine.
Oil futures fell in early trading Monday as investors weighed the possibility of increased Russian fuel exports following the waiver.
But a change in the oil market does not necessarily translate into lower prices at your neighborhood gas station. For commuters and businesses paying to transport goods, the unanswered questions are whether fuel savings will materialize, how much relief they might provide and when.
The administration’s review could extend beyond the Nov. 3 midterm elections.
