From The Economic Times · ET Online · · 1m 10s
Trump Waives Graham Law Tariffs for Russian Energy Buyers
Trump's tariff waiver on Russian oil buyers relieves India and China from potential US penalties.
In brief
Trump's tariff waiver on Russian oil buyers relieves India and China from potential US penalties. Trump suspended tariffs on Russian oil imports under the Lindsey Graham Sanctioning Russia and Iran Act of 2026, avoiding immediate trade friction with major buyers like India and China. Originally reported by The…
Trump's Tariff Waiver
Trump invoked a waiver provision in the Lindsey O Graham Sanctioning Russia and Iran Act of 2026 to suspend tariffs on Russian energy imports.
Relief for India
India avoided potential 100% tariffs on Russian crude imports that could have affected its $40.8 billion worth of Russian oil purchases.
India's Energy Reliance
Russia now supplies 51% of India's crude imports, helping refiners cut costs and support domestic energy security.
China and Turkey
China, the largest buyer of Russian crude, and Turkey also benefit from the waiver to avoid potential US tariffs.
Temporary Measure
The waiver gives Trump authority to restore tariffs later but does not end the threat of future US penalties.
Congress Reaction
Republicans who supported the legislation may oppose Trump's waiver as it weakens pressure on Putin.
The main idea
Trump suspended tariffs on Russian oil imports under the Lindsey Graham Sanctioning Russia and Iran Act of 2026, avoiding immediate trade friction with major buyers like India and China.
