Trump Waives Russia Sanctions Threatening Tariffs on India and China

US President Donald Trump issued an executive order on October 16 waiving several Russia-related sanctions, restrictions, and tariff measures that threatened to impose duties of up to 100 per cent on India, China, and other major buyers of Russian oil and gas. Trump formally certified to Congress that the waiver was in the national interest of the United States, providing potential relief just days before key provisions of the legislation were scheduled to take effect.

The measures were originally part of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which was signed into law by Trump in September to increase economic pressure on Moscow regarding its invasion of Ukraine. This legislation authorized steep tariffs on countries continuing to purchase Russian crude oil and natural gas. By invoking a specific provision in the law, Trump's executive order suspends these specified sanctions and tariff provisions until he or authorized senior officials determine that further action is appropriate. However, the order does not lift all existing US sanctions against Russia, as certain measures from earlier executive orders remain unaffected.

India and China stand to benefit significantly from the decision, as both are among the world's largest importers of Russian energy and faced the prospect of additional US tariffs that raised concerns about bilateral trade and economic ties. India has consistently maintained that its energy procurement is guided by national energy security requirements and affordable supplies. While the waiver eases immediate tariff threats, the administration retains authority to reconsider the measures. The decision also addresses concerns that harsher restrictions on major buyers could disrupt global oil supplies and drive up prices, though the move has faced criticism from some US lawmakers who believe relaxing pressure undermines efforts to hold Russia accountable.