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BHARAT NEETI

Be Ahead With Economy And Policy Updates

US Waives Oil Import Tariffs, Big Relief for India

US Waives Oil Import Tariffs, Big Relief for India
Prime Minister Narendra Modi with US President Donald Trump
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New Delhi: US President Donald Trump on Saturday suspend key tariffs and sanctions under the Lindsey Graham Act targeting Russia, citing national interests of the country. This is a big relief for India as the country is fully dependent on Russian oil after West Asia crisis.

According to IMPLEMENTING THE LINDSEY O. GRAHAM SANCTIONING RUSSIA AND IRAN ACT OF 2026, “Section 115 of the Graham Act authorizes the President to waive the application of any sanctions provision with respect to a foreign person, any restriction with respect to a person, and any duty under the Graham Act, subject to the submission to the Congress of a written certification that such a waiver is in the national interests of the United States and a report explaining the basis for the certification.”

Donald Trump says, “As described further in section 4 of this order, I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act. | 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.”

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