New Delhi, Oct. 17 -- US President Donald Trump on Friday (local time) signed an executive order waiving key Russia-related sanctions and tariffs under the Graham Act, telling Congress that the decision was in the national interest.

"I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act," Trump said in the order.

The US President said he had submitted a certification to Congress stating that issuing the waiver at this time was in the country's national interest, along with a report explaining the decision. The sanctions under the Act, which Trump signed last month, were due to take effect in two days, AP reported.

Trump invoked Section 115 of the Graham Act, which, according to t...