Trump waives Russia oil sanctions and tariffs, sparing India from threatened levies
First published Sat, Oct 17
Donald Trump waived key Russia-related sanctions and tariffs before they took effect under a new law, covering the purchase of Russian oil and gas. The waiver removes the immediate legal trigger that would have imposed the measures on buyers of Russian crude.1234
The threat against India had escalated from a proposed 500% levy to 100% before the waiver was granted, according to accounts tracing the sequence of US tariff warnings over Russian oil purchases. The relief eases tariff pressure tied to India's continued buying of Russian crude.567
India's Russian crude imports are expected to stay near current levels following the waiver, with no sharp change in volumes anticipated. The Times of India framed the waiver around what it means for India's energy purchases.89
Vladimir Putin's envoy called Trump's blocking of the Russia sanctions a 'historic moment', a characterization that comes from the Russian side rather than from US or Indian officials. The remark was carried in coverage of the waiver decision.101
