US President Trump implements and immediately waives new tariffs on Russian oil buyers

President Donald Trump enacted tariffs under a new US law targeting major buyers of Russian oil and gas, but immediately waived them through an executive order signed on Friday. The action spares nations like India and China from a potential 100 per cent duty just before a Sunday deadline. The executive order implements the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which Trump originally signed on September 18. While the law mandated duties of up to 100 per cent on goods from the largest five importers of Russian crude and natural gas and top sanctions facilitators, Section 4 of the order immediately suspends those measures.

Trump stated in the order that he waived the duties because it is in the national interests of the United States, having submitted a written certification and report to Congress that remain private. Although the order does not name specific countries, India is recognized as one of the largest buyers of Russian crude. The executive order also waives most of the legislation's sanctions on foreign persons and delegates presidential powers under the law to the Secretary of State, Treasury Secretary, Trade Representative, and Energy Secretary.

Despite the open-ended waivers, pressure remains in place. The US Trade Representative, in coordination with other cabinet secretaries, will monitor purchases of Russian energy and report on top sanctions evasion facilitators. Existing US sanctions on Russia remain untouched by the order. Meanwhile, the developments unfold as US Secretary of State Marco Rubio prepares to travel to India, where he is scheduled to visit Mumbai and the Jamnagar refinery complex for talks with External Affairs Minister S. Jaishankar.