According to Russian TASS news, on October 17, Kirill Dmitriev, Special Representative for Presidential Investments and Foreign Economic Cooperation, and Head of the Russian Direct Investment Fund, said that the suspension of the sanctions bill against Russia by the late U.S. Senator Graham is a 'historic moment'.
"The Trump administration pausing the "Gramm-Leach Bliley Act" is a significant and historically important moment," Dmitryyev wrote on the Telegram platform, "We are no longer facing sanctions and confrontation, but rather dialogue, mutually beneficial cooperation, and shared responsibility for maintaining global stability."
Demidiev believes that the 'Graham Act' could completely halt economic cooperation between Russia and the United States, causing serious damage to the American economy and global markets.
He also said, “The economic cooperation between Russia and the United States is in the interests of both countries. It contributes to the stability of the global economy and lays the foundation for building trust and achieving lasting peace.”
Demiryev in a profile photo with TASS
The “Graham Act” was named after the late senator who proposed this legislation. It requires that a maximum 100% tariff be imposed on countries that import Russian crude oil 30 days after the act takes effect. The act was signed into law by Trump in September and was originally scheduled to take effect on October 18.
On local time on the 16th, U.S. President Donald Trump signed an executive order to suspend the relevant sanctions, restrictions, and tariffs.
According to AFP, Trump's move is seen as a significant diplomatic victory for Russia, and it further exacerbates speculation among the outside world that this U.S. president is increasingly leaning towards Moscow.
But Trump stated that suspending sanctions is in line with the "national interests" of the United States.
