Russia sanctions waiver a 60-day pause: US Secretary of State Marco Rubio

US Secretary of State Marco Rubio stated that the Trump administration will utilize a 60-day pause to understand the implications of new sanctions on Russia and trading partners such as India for the global economy, according to Hindustan Times - World News. Rubio explained that the decision to waive sanctions under the Lindsey Graham act considers disruptions to global energy prices caused by the wars in Ukraine and Iran, as well as Houthi military strikes on Saudi Arabia.

Business Standard IN reported that Rubio also acknowledged India's heavy reliance on Russian oil despite its energy diversification.

President Trump issued an executive order waiving requirements to raise duties on Russian goods imported into the US by up to 500 per cent and requirements to place tariffs of up to 100 per cent on China, India, and other major buyers of Russian energy, according to The National UAE and The National Business. Treasury Secretary Scott Bessent stated the administration invoked the 60-day pause to "see what s going on," noting that the diesel embargo is the only thing that has been lifted.

As part of a diesel deal, Trump said Russia would immediately send 300,000 tonnes of diesel to US and global markets, with additional amounts of 500,000 tonnes in November and 1 million tonnes following that.

The decision to lift sanctions on Russian diesel drew opposition from Europe, the Republican party, and former Vice President Pence, who called for the restoration of sanctions, according to The National UAE, The National Business, and The Hill. Ukrainian President Volodymyr Zelenskyy condemned the move, stating it would assist Russia's war machine.

Brief written by urgent.news from Business Standard IN, The National UAE, The National Business, Hindustan Times - World News, The Hill — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.