New Delhi, Oct 17 (NVI) US President Donald Trump has waived key sanctions, trade restrictions and tariff provisions related to purchase of Russian oil under a recently-enacted law, a move that is expected to benefit India.
Trump has issued an executive order waiving these provisions under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, under which penalties could have included tariffs of up to 100% on major buyers of Russian energy.
The decision comes just days before the measures were due to take effect and is likely to provide significant economic relief to countries such as India and China, which continue to import Russian crude oil and natural gas.
The legislation, signed into law in mid-September, was designed to increase economic pressure on Russia over its ongoing war in Ukraine.
It targeted the largest importers of Russian energy and countries accused of facilitating sanctions evasion.
Trump invoked a national interest waiver provision in the law, certifying to Congress that suspending the specified measures was necessary to protect US economic interests.
The move also follows an agreement between Trump and Russian President Vladimir Putin that would allow Moscow to export millions of tons of diesel to international markets to help stabilize supplies.
The decision signals a shift in Washington’s approach to economic pressure on Moscow, potentially easing restrictions on Russian energy trade even as the war in Ukraine continues. (NVI)
