United States President Donald Trump has signed an executive order waiving newly-passed Russia sanctions, citing the "national interest" and aiming to lower energy prices.

The move, which reverses congressionally-approved measures, comes after a previous announcement to allow Russian diesel into global markets to combat rising energy costs amid the US-Israel war on Iran. The US Treasury had previously waived sanctions on Russian diesel sales until April 2027.

Trump's decision has ignited anger from Ukraine, European partners, and many US officials who argue it rewards Moscow while its conflict with Ukraine continues. Ukrainian President Volodmyr Zelenskyy characterized Trump's diesel deal as a "gift" to Russian President Vladimir Putin, suggesting it would fund the war effort.

Despite criticism from European countries regarding Trump's approach to Russian energy, the US president has accused them of "hypocrisy," pointing to ongoing gas imports from Russia by European Union member states.

The executive order signed on Friday rescinded numerous Russia-related sanctions scheduled to take effect, including duties on Russian goods and penalties for purchasing Russian oil and gas. These blocked measures were part of bipartisan legislation passed by Congress, named after Senator Lindsay Graham, a vocal critic of Russia.

Had they been enacted, the measures could have imposed up to 100 percent tariffs on goods from top importers of Russian crude oil or gas, such as China and India. Similar penalties were possible for countries identified as major buyers of Russian oil and gas or those assisting Moscow in circumventing sanctions.

The waiver remains in effect until the Trump administration deems "further action is appropriate," according to the executive order. US Congressman Don Beyer, a Democrat, described the waiver as a "surrender to Putin" that "betrays our Ukrainian partners and defies clear congressional intent."

Analysts suggest Russia stands to benefit most from the eased sanctions, as Russian oil may no longer require significant discounts. Economist Vasily Astrov estimated that approximately 60 cents of every additional dollar in the price of a barrel of Russian oil could end up benefiting the Russian government.