Trump Waives Russia Sanctions as Zelenskyy Warns of Escalating War

What’s happening

President Trump has waived virtually all new Russia sanctions he previously signed, including restrictions passed by Congress and championed by late Senator Lindsey Graham. The move comes as Russian forces intensify strikes on Ukrainian power plants and infrastructure.

Market impact

Energy markets and defense contractors face uncertainty over U.S. policy direction. The waiver removes a potential cost to Russian energy exports and signals reduced sanctions risk, but creates geopolitical volatility that could affect oil prices, defense spending, and European energy security premiums.

Broader implications

Zelenskyy called the decision a "reward" for Putin and warned it will intensify the conflict. The move represents a sharp pivot in U.S. Ukraine policy and raises questions about NATO commitment, European defense spending, and the durability of Western sanctions regimes.