Trump suspends prospective 100% tariffs on Russian oil imports, granting major relief to India
US President Donald Trump officially issued an executive waiver under the Lindsey O. Graham Sanctioning Russia and Iran Act, putting prospective tariffs of up to 100% on hold for major buyers of Russian crude, including India.
US President Donald Trump signed an executive order granting a formal waiver on prospective tariffs of up to 100% targeting nations purchasing Russian crude oil and natural gas.
The decision, issued under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, offers significant strategic relief to key energy buyers, including India, China, and several European nations.
More details are awaited...