Trump Grants 60-Day Russia Oil Tariff Waiver, Easing India's Import Costs

US President Donald Trump has temporarily suspended up to 100% additional tariffs on countries, including India and China, importing oil and gas from Russia and Iran, granting a 60-day review period before further action. Secretary of State Marco Rubio cited the need to assess economic and geopolitical impacts. The waiver, under the Graham sanctions law passed in September, delays tariffs that would have applied to new purchases after October 18. The administration frames it as a review period, with no fixed end date, to protect global energy markets amid multiple conflicts. For India, the move offers temporary relief from heavy tariffs, allowing continued Russian oil imports while diversifying sources. However, experts warn the waiver is not permanent and could be revoked, leaving uncertainty for Indian refiners and affecting US-India trade talks.