Washington, October 17, 2026 (Yes Punjab News)
US President Donald Trump has suspended tariffs and most sanctions provided for under a new law targeting countries that buy Russian oil and gas, sparing major importers such as India and China from an impending 100 per cent duty increase.
An executive order signed by Trump on Friday implements the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which he signed into law on September 18. The legislation required tariffs of up to 100 per cent on goods from the biggest buyers of Russian oil and gas within 30 days, setting October 18 as the deadline.
The order provides for a 100 per cent increase in duties on goods from the five largest importers of Russian-origin crude oil and natural gas if they knowingly make new purchases on or after October 18. It also provides for the same increase on goods from the five leading facilitators of Russian oil sanctions evasion and a 500 per cent increase on goods from Russia itself.
However, a separate provision in the same order immediately waives the application of the duties. “I hereby waive the application of any duties provided for in sections 112 and 113 of the Graham Act or this order,” Trump wrote.
The order also suspends most of the law’s sanctions on foreign persons, covering several provisions dealing with penalties and restrictions. The waivers will remain in force until the President or Secretary of State, in consultation with relevant officials, determines that further action is warranted.
The order does not name specific countries. Trump said he had submitted the written certification required by law to Congress, stating that the waivers were in the national interest of the United States, along with a report explaining the basis for the decision. Neither document had been made public at the time of the report.
The administration has retained a mechanism to review the situation. The US Trade Representative, working with the Secretaries of State, Treasury and Energy, has been directed to monitor purchases of Russian-origin oil and gas and report developments that could warrant further action. The office must also identify the leading facilitators of Russian oil sanctions evasion.
The order makes clear that existing US sanctions on Russia remain unaffected.
India is among the largest buyers of Russian crude. In February, Washington removed an additional 25 per cent duty on Indian goods linked to New Delhi’s Russian oil purchases under a trade framework that reduced the reciprocal tariff on Indian goods from 25 per cent to 18 per cent. The two countries are working towards finalising the first tranche of a trade agreement.
The decision came after Republican Congressman Michael McCaul and Democratic Congressman Jim Costa urged Trump in a bipartisan letter on Thursday to implement the law fully by the deadline. They argued that any waiver should be narrow, time-limited and linked to measurable reductions in support for Russia’s war.
Meanwhile, Secretary of State Marco Rubio is scheduled to visit Samarkand, Mumbai and Jamnagar from October 17 to 22. He is due to meet External Affairs Minister S. Jaishankar in Mumbai on October 20 and visit the Jamnagar refinery complex.
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