US President Donald Trump waives parts of new sanctions related to Russian oil, easing pressure on major buyers including India, according to multiple outlets. The waiver reduces the risk of steep additional tariffs tied to Russian crude and gas imports.
The changes are linked to a law that authorizes tariffs of up to 100% on imports from the five largest importers of Russian crude and gas and imposes sanctions targeting Russia’s “shadow” fleet of tankers. Mint reports the decision provides near-term relief as India and the United States work to finalize a broader trade arrangement, with crude prices above $100 a barrel increasing India’s import-bill and inflation concerns.
Business Line notes the waiver is temporary and does not remove longer-term uncertainty, citing a policy risk of further duties of up to 100% if threats tied to Russian oil purchases materialize. Overall coverage characterizes the move as a short-term reduction in costs for Indian refiners and importers, while leaving open how long the relief lasts under the new sanctions framework.
