New Delhi:
In a major relief for India and China, US President Donald Trump has waived many sanctions and tariffs tied to Russian exports, a day before they were set to take effect under a bill he signed last month.
According to Trump, the pause has been imposed in the "national interest".
"I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act. I have submitted to Congress a certification that the issuance of such a waiver at this time is in the national interest of the United States," Trump said in an executive order released late Friday.
However, the directive only suspends implementation of the Russia-related tariffs, meaning Trump could apply them later if he chooses.
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Trump had signed the legislation 'Lindsey O Graham Sanctioning Russia and Iran Act of 2026 ' - which was named after Senator Lindsey Graham - one of Ukraine's staunch defenders in Washington. He died in July this year shortly after returning from a trip to Kyiv. The measure had given Trump 30 days to impose 100 per cent tariffs on all goods from the top five buyers of Russian crude - China, India, Slovakia, Hungary, and Azerbaijan - and also slap sanctions on numerous Russian entities and impose 500 per cent tariffs on all US imports of Russian energy products.
The one-month deadline was set to expire tomorrow, October 18.
What is the legislation?
The legislation sought to reduce the financial resources sustaining Russia's war against Ukraine and targeted Russian officials, banks, energy interests, and foreign entities supporting Moscow's military operations. The law also authorised Trump to impose tariffs on countries doing business with Russia to cut their dependence on Russian oil and gas. Additionally, it included sanctions against Russian President Vladimir Putin and senior figures in the Russian government.
It would have paved the way for tariffs of up to 100 per cent on countries buying Russian oil and gas, putting India and China among 10 countries under threat.
The impact on India
If Trump had levied the 100 per cent tariff on India, it would have been on top of the 10 per cent tariff the US currently imposes on imports from New Delhi as a penalty for not doing enough to stop the import of goods made using forced labour. However, the exact impact of new tariffs on Indian exports could have been assessed only after the announcement of tariff rates.
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India and the US had strained ties last year when Trump imposed an additional 25 per cent tariff on Indian imports of Russian crude, on top of a 25 per cent reciprocal tariff. The additional tariffs were, however, removed in February 2026, while the reciprocal tariff was reduced to 18 per cent as part of a US-India trade framework.
What India had said
As the US Congress had passed the Russia sanctions bill last month, India had made it clear that it was determined to take all necessary measures to protect its trade and economic interests.
"As stated on several earlier occasions, India remains firmly committed to ensuring energy security for its 1.4 billion people. It will continue to do so through diversified sourcing and based on evolving market dynamics," the foreign ministry had said in a statement.
The ministry also added that the issue of India's oil trade with Russia has been discussed at high levels in recent months with various US interlocutors. "Its potential implications for not just the bilateral relationship but also the international energy market have been very clearly articulated by the Indian side," it said.
Trump's growing closeness with Putin
The executive order came as Trump has been warming toward Russia and publicly criticising Ukrainian President Volodymyr Zelensky, including suggesting that Ukraine needs a new leader.
Last week, Trump announced a deal with Russian President Vladimir Putin to bring Russian diesel to the United States. As per the deal, Russia would supply more than 300,000 tonnes of diesel immediately, followed by further shipments in the coming months.
Zelensky criticised the US-Russia diesel deal, terming it "unworthy of our partners" and a "weak decision". He also alleged that Moscow was expressing its "thanks" for the deal by attacking Ukraine.
On the other hand, Trump suggested that it was time for Ukraine to get a new President, citing Zelensky's "inability" to strike a deal to end the war with Russia.
"I suggest they get a new leader who can make a deal. For some reason (Zelensky) never does," he said.