India Gets 60-Day Reprieve From US Tariffs on Russian Oil Purchases

US President Donald Trump has temporarily waived key provisions of the Graham Act, pausing threatened punitive tariffs of up to 100% on countries, including India and China, that purchase Russian oil and gas. The 60-day review period shields India from steep additional U.S. trade restrictions scheduled to take effect. Secretary of State Marco Rubio defended the reprieve, citing global energy market volatility from conflicts involving Iran, Houthi attacks near Saudi Arabia, and the Russia-Ukraine war. He acknowledged India cannot pivot away from Russian crude "overnight" without impacting its domestic economy, emphasizing India remains a crucial U.S. ally. The decision has drawn bipartisan criticism in Washington, with Senator Elizabeth Warren accusing Trump of enabling Russian aggression and Ukrainian President Volodymyr Zelenskyy expressing sharp disapproval. Trade analysts warn the waiver is temporary and reversible, leaving Indian refiners facing policy uncertainty as the administration retains authority to restore tariffs anytime.