In what could be a major relief for India, US President Donald Trump has waived the application of sanctions, restrictions and duties under the Sanctioning Russia and Iran Act, just days before the new law was due to take effect.
“I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act,” Trump said in an executive order issued on Friday evening.
“I have submitted to the Congress a certification that the issuance of such a waiver at this time is in the national interests of the United States,” he added.
Trump’s decision comes amid a notable shift in his approach towards Moscow. The US president has recently appeared more receptive to Russia while publicly criticising Ukrainian President Volodymyr Zelenskyy, even suggesting that Ukraine needs new leadership.
The Lindsey O. Graham-led Sanctioning Russia and Iran Act empowered the US president to impose sweeping sanctions on Moscow and levy tariffs of up to 100 per cent on India, China and other countries continuing to purchase Russian oil and gas.
Trump signed the legislation in mid-September after it was passed by both the Senate and the House of Representatives. The bill represented one of the most significant Ukraine-related sanctions packages to advance through Congress since Trump returned to the White House.
Reacting to the legislation, India had reiterated its commitment to safeguarding the energy security of its 1.4 billion people through diversified sourcing, guided by evolving market dynamics. New Delhi had also cautioned that the sanctions could have implications not only for bilateral relations with Washington but also for global energy markets.
Trump’s decision to waive sanctions marks a major shift in his approach towards Moscow and efforts to end the prolonged war in Ukraine. The US president recently reached an agreement with Russian President Vladimir Putin to allow the return of Russian diesel to global and American markets.
The move has drawn flak from various quarters with critics argue that Washington’s approach exposes a double standard in its Russia policy, given its continued pressure on countries maintaining energy ties with Moscow.
