'India an important ally': Marco Rubio says US President studying impact of possible tariffs on countries like India

US Secretary of State Marco Rubio stated that President Donald Trump has implemented a 60-day waiver of sanctions and tariffs related to Russia under the Lindsey O. Graham Act. According to Rubio, the President intends to use this period to analyze the impact that imposing such sanctions and tariffs would have on the global economy and the US economy. Live Mint reports that the waived tariffs could have targeted India and four other nations that are major buyers of Russian crude oil and gas.

Rubio described India as an "important ally" and noted that while the country has voluntarily diversified its energy portfolio, it still receives a substantial amount of energy from Russia. He explained that it would be difficult for New Delhi to pivot away from Russian imports overnight. RTE News reported that Rubio noted various conflicts, including the US war on Iran and attacks on Saudi Arabia by Yemen's Houthis, are impacting global energy prices and economies.

The decision to waive the measures, which were adopted by Congress last month, has drawn bipartisan criticism from US lawmakers. France 24 noted the move has also raised fears in Ukraine regarding the potential easing of restrictions on Moscow.

Brief written by urgent.news from The Economic Times - Economy, Live Mint, France 24, Hindustan Times, RTE News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.