Trump waives Russia oil curbs amid 100% tariff threat: What it means for India
US President Donald Trump has issued an executive order waiving sanctions and 100% tariffs on countries importing Russian oil, including India and China. The waiver bypasses the Graham Act of 2026, citing US national interest.
Why it matters
This decision significantly alters US foreign policy regarding Russia and provides immediate economic relief to major global oil importers.
In what is being seen as a big relief for India and China, US President Donald Trump has waived sanctions, restrictions and duties provided for under the Sanctioning Russia and Iran Act, citing the national interest of the United States.The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 gave Trump the authority to impose broad sanctions on Russia and levy steep tariffs on major buyers of Russian oil and gas, including China and India.The legislation, principally backed in Congress by the late Senator Lindsey Graham, provided for tariffs of up to 100% within 30 days on goods entering the US from the five largest importers of Russian crude oil or gas.
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