Trump Admin Pauses Russia Sanctions For 60 Days, Rubio Says India In Focus

<p>The Donald Trump administration will take 60 days to assess the potential global economic impact of imposing sweeping new sanctions on Russia and its trading partners, including India, US Secretary of State Marco Rubio said on Saturday.</p> <p>Explaining Washington's decision to waive sanctions under the Lindsey Graham Act this week, Rubio pointed to mounting pressure on global energy prices amid the war in Ukraine, the conflict involving Iran and Houthi attacks on Saudi Arabia.</p> <p>Rubio made the remarks while speaking to reporters ahead of his visit to Uzbekistan and India, highlighting the need to weigh the economic consequences of fresh restrictions against the broader geopolitical situation.</p> <h2>Why Trump Is Reviewing Russia Sanctions</h2> <p>Rubio said the legislation included provisions for waivers to give the administration time to assess the implications of its measures, particularly amid disruptions to global energy supplies.</p> <p>He noted that the pressure on energy markets was not limited to the conflict involving Iran or disruptions around the Strait of Hormuz. Attacks by Yemen's Houthi rebels on Saudi Arabia and strikes on energy infrastructure amid the Russia-Ukraine war were also affecting global prices, he said.</p> <p>The US secretary of state said Washington needed to consider these factors together before determining the appropriate combination of measures against Russia and countries buying its energy.</p> <h2>How The Lindsey Graham Act Could Affect India</h2> <p>Rubio also highlighted the potential implications of the legislation for India, which continues to purchase Russian energy despite diversifying its sources of supply.</p> <p>The law authorises the US president to impose tariffs of up to 100% on the five largest purchasers of Russian energy. Rubio acknowledged that India remained an important US partner and said shifting away from Russian supplies could not happen overnight.</p> <p>" So we need that period of time to sort of study all this and figure out what the right combination is," Rubio said, explaining why the administration needed time to evaluate the consequences of the measures.</p> <h2>Trump Invokes Waiver To Hold Off Tariffs</h2> <p>Just a month after signing the Lindsey Graham Act into law, Trump invoked its waiver provision on Friday to defer tariffs of up to 100% that could otherwise have been imposed on India and four other countries for purchasing Russian oil and gas.</p> <p>The order also waived several sanctions targeting Russia and its economic partners on national interest grounds, with the exemptions remaining in place until further notice.</p> <p>Beyond tariffs on major buyers of Russian energy, the legislation gives the president the authority to raise tariffs on Russian exports to the US to as much as 500%. It also permits tariffs of up to 100% on the five largest countries helping Russia circumvent oil sanctions.</p> <p>The law further provides for additional sanctions targeting Russian financial institutions and their international partners, with the broader objective of pressuring Moscow to end the war in Ukraine.</p> <h2>US Energy Prices Add To Pressure On Trump</h2> <p>The decision to grant the waivers also comes as the Trump administration seeks to bring down domestic energy prices ahead of the US midterm elections scheduled for November 3.</p> <p>Last week, the administration announced a controversial diesel supply arrangement with Russia that could see Moscow provide 5 million tonnes of diesel to the US and the global market in the coming months.</p> <p>Trump explicitly linked the arrangement to his efforts to lower energy costs for American consumers, underscoring the role of fuel prices in the administration's economic calculations.</p> <p>The 60-day review will give Washington time to weigh its efforts to pressure Russia over the Ukraine war against the potential consequences of further restrictions for global energy markets and partners such as India.</p>

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