Trump waives some Russia oil sanctions, easing pressure on India
The move offers relief to major Russian oil buyers as India and the US push to finalize a trade deal, with crude prices above $100 a barrel adding to pressure on New Delhi’s import bill and inflation.
US President Donald Trump has waived key Russia-related sanctions and tariffs, potentially easing pressure on India as it negotiates a trade deal with the US. The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, signed by Trump, authorized tariffs of up to 100% on countries importing Russian oil, with the aim of curbing Moscow's economic might amid its war with Ukraine.
The sanctions were set to take effect on October 18. The waiver comes as India and the US negotiate a trade deal, with India seeking tariff concessions to gain an advantage over competitors in the US market. The move could provide some relief to India's oil importers, as Russia supplies about 45% of India's crude oil imports.
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