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What Trump's 60-Day Russian Oil Waiver Means For India
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News18•18-10-2026, 18:21
What Trump's 60-Day Russian Oil Waiver Means For India
- •US President Donald Trump has temporarily suspended certain provisions of the Graham Act for 60 days.
- •The exemption allows countries like India and China to purchase Russian oil without heavy trade tariffs.
- •US Secretary of State Marco Rubio acknowledged that India cannot cut off Russian crude overnight without impacting its economy.
- •Trade analysts warn that this is a temporary relief and not a permanent policy shift, leaving long-term uncertainty for energy importers.
Key Questions Answered
The 60-day exemption provides India immediate relief from heavy US tariffs and allows Indian refiners to continue importing discounted Russian oil without immediate trade penalties, preventing a sudden shock to the domestic economy.
The US temporarily lifted provisions of the Graham Act due to widespread global supply disruptions caused by conflicts involving Iran, Houthi attacks near Saudi Arabia, and the war in Ukraine, as a sudden ban could risk global fuel prices.
No, trade analysts and the Global Trade Research Initiative warn that it is a temporary and revocable relief rather than a long-term guarantee, meaning policy uncertainty remains for Indian energy importers once the review period ends.
