Rubio says Trump assessing tariff impact on India

A day after US President Donald Trump waived sanctions related to Russian fuel sales, Secretary of State Marco Rubio emphasized India's importance as an ally with significant energy needs. The Graham Sanctioning Russia and Iran Act, which has been paused, would have imposed tariffs of up to 100% on goods from India and China, two of the five largest importers of Russian crude oil and gas.

Rubio, who is set to visit India and Jamnagar, home to a major refinery, said the US President wants to use a 60-day period to assess the impact of potential tariffs and sanctions on the global and US economies. India, known for diversifying its energy portfolio, still relies heavily on Russian energy due to its challenging transition.

Additionally, the US is considering the geopolitical situation, particularly the conflict between Saudi Arabia and the Houthi militia, which has increased global energy supply pressures. Trump's waiver also removed duties on all goods imported from Russia, including a deal for over 3,00,000 tonnes of Russian diesel fuel.