Trump Waives 100% Tariffs on Russian Oil Buyers Including India for 60 Days

US President Donald Trump has temporarily waived key provisions of the Lindsey O. Graham Sanctioning Russia and Iran Act, pausing threatened punitive tariffs of up to 100 percent on countries including India and China that purchase Russian oil and gas.

The waiver gives the administration a 60-day period to analyse what imposing both sanctions and tariffs would mean for the global economy and the US economy.

“The president wants to take the 60-day period of time to sort of analyse what imposing both sanctions and tariffs will mean to the global economy and even to the US economy.”

Marco Rubio said India has voluntarily diversified its energy portfolio but still receives a substantial amount of energy from Russia because it is hard to pivot from one day to the next.

Passed by an overwhelming bipartisan majority in September 2026, the Graham Act authorises an additional 100 percent tariff on goods from the five largest importers of Russian crude oil and natural gas if they knowingly make new purchases from 18 October 2026.

The signed executive order states that waivers will remain in effect until the President or the Secretary of State determines that further action is warranted, setting no explicit automatic expiration date.

Rubio cited high energy prices and ongoing conflicts, including the war in Iran, as factors placing additional pressure on global energy supplies.

The waiver is intended to safeguard international energy markets amidst multiple compounding global crises.