US President Donald Trump has signed an executive order to raise tariffs on goods imported from Russia by 500%, as well as impose additional tariffs on major buyers of Russian energy products and countries that help circumvent sanctions.

At the same time, the American leader suspended the application of a number of sanctions provisions of the new law.

According to the document signed on Friday, tariffs on Russian goods are being increased by 500%. A 100% increase in tariffs is planned for the five largest importers of Russian oil and natural gas if they knowingly make new purchases of Russian raw materials starting from Sunday.

Tariffs on goods from five countries that, according to the American authorities, contribute the most to the circumvention of sanctions against the Russian oil sector will be increased by another 100%. The US trade representative, in collaboration with other departments, will decide which countries will be affected.

At the same time, Trump has exercised his right to waive certain provisions of the law on sanctions against Russia and Iran signed by the US president on September 18. In particular, the new executive order exempts from customs duties and suspends the application of a number of punitive measures and restrictions.

The document adds, however, that these exemptions do not cancel the sanctions imposed against Russia by other executive orders earlier. The waiver of the application of new measures will be in effect until the president or other authorized representatives of the US administration decide that further action is necessary.

Trump explained the decision to suspend certain provisions by US national interests and announced that he had sent the relevant explanation to Congress.