Moscow, Russia - President Donald Trump's decision to waive a new package of sanctions on Russia is a "historic moment," a Russian presidential envoy said Saturday.

Trump signed an executive order Friday that waived sweeping US sanctions and tariffs targeting Russia's energy revenues, two days before they were due to take effect.

The move came amid a clash with Ukrainian President Volodymyr Zelensky that has fueled speculation the US leader is increasingly siding with Moscow nearly five years into the Ukraine war, which has killed hundreds of thousands of people and displaced millions.

"The Trump administration's suspension of the Graham Act is an important and truly historic moment," Kirill Dmitriev, envoy for Russian President Vladimir Putin, said on social media.

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The Kremlin and Putin – who appeared in military uniform Friday and said Moscow intends to seize the rest of eastern Ukraine – have not yet reacted to the move, which is a major diplomatic win for Russia.

The Lindsey Graham Act – named after the deceased South Carolina senator who sponsored the bill – targeted Russia's energy and defense sectors as well as Putin and other senior officials. It allowed Trump the authority to impose duties up to 100% on major buyers of Russian oil and gas.

"As described further in section 4 of this order, I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act," the executive order said.

Dmitriev said the act would have caused "serious damage first and foremost to the US economy and global markets."

The West imposed massive sanctions on Russia when it launched the Ukraine war in 2022.

Trump's reversal on the Russia sanctions comes after a controversial deal he struck with Putin that would allow Russia diesel exports in exchange for US sanctions relief.

Relations between Kyiv and Washington have soured since the deal, with Ukrainian President Volodymyr Zelensky calling it a "weak decision" and Ukrainian forces resuming attacks on Russian oil refineries.