This comes as welcome news for India and China. US President Donald Trump has suspended several sanctions and tariffs related to Russian exports. He made this decision just one day before these measures were set to take effect. These actions were mandated under a law signed last month. Trump stated that the sanctions have been suspended for the time being in the national interest. NDTV Online reported this development.
In an executive order issued late Friday night, Trump stated, “I hereby suspend the application of sanctions, restrictions, and tariffs mentioned in the Graham Act.” He added that he had submitted a certification to Congress stating that granting such a waiver is in the US national interest at this time. However, this directive only halts the process of implementing the Russia-related tariffs; it means Trump retains the authority to impose these tariffs in the future.
The legislation Trump had signed is titled the “Lindsey Graham Sanctioning Russia and Iran Act of 2026.” It was named after US Senator Lindsey Graham, a staunch supporter of Ukraine. The act empowered Trump to impose tariffs of up to 100 percent on all goods imported from the top five buyers of Russian crude oil—China, India, Slovakia, Hungary, and Azerbaijan—within 30 days. Additionally, it provided for sanctions against numerous Russian entities and organizations, as well as tariffs of up to 500 percent on Russian energy products imported into the US. The one-month deadline for imposing these tariffs was set to expire on October 18.
What did the act entail?
The objective of the act was to curtail the financial resources enabling Russia to continue its war against Ukraine. To this end, it targeted Russian government officials, banks, entities linked to the energy sector, and foreign organizations that support Moscow’s military operations. This legislation also granted Trump the authority to impose tariffs on countries that conduct business with Russia, with the aim of reducing their dependence on Russian oil and gas. Furthermore, it included provisions for sanctions against Russian President Vladimir Putin and senior officials within the Russian government.
Had the law come into effect, it would have paved the way for the imposition of tariffs of up to 100 percent on countries purchasing Russian oil and gas. This would have placed at least 10 nations—including India and China—at risk of such tariffs. If Trump were to impose a 100 percent tariff on India, it would be in addition to the 10 percent tariff already applied to Indian goods imported into the United States—a levy imposed by the U.S. on the grounds that India had failed to take sufficient action to halt the import of goods produced through forced labor.
However, it was not possible to determine the precise impact on Indian exports without the announcement of the specific new tariff rates.
