President Trump has temporarily waived some sanctions targeting Russia's energy sector and economy for 60 days, saying he is negotiating peace in the Russia-Ukraine war and does not want to drive Russia away from the table. The sanctions come from the bipartisan Lindsey Graham Act passed last month, which also targets Putin, Russian financial institutions, a 'shadow fleet' of oil tankers, and countries buying Russian oil and gas, including China and India. Ukrainian President Zelenskyy called the decision 'unfortunate' and 'a historic mistake,' and bipartisan lawmakers also criticized the pause. Gas prices have risen more than 34% year over year according to government inflation data, and analysts say a recent deal allowing Russia to export diesel will do little to lower global diesel prices.
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Related tickers and likely impact
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 763.31 |
| Change that session | -1.10% |
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/16/2026 | 4,165.63 |
| Change that session | -0.13% |
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