Trump waives Russia oil tariffs, spares India from 100% duties

US President Donald Trump waived new sanctions and duties on Russian energy exports under the Graham Act, citing national interest and relieving India from potential tariffs of up to 100% for its oil purchases from Russia. The waiver, issued Friday, exempts India and other major buyers from punitive measures proposed under the law enacted September 18. India, which sourced roughly 44% of its crude from Russia in August, will face no penalties and is also exploring long-term LNG contracts with Moscow. The decision follows a US-Russia diesel supply deal and precedes Secretary of State Marco Rubio's visit to India. New Delhi had warned tariffs would harm bilateral ties, while experts criticized the threat as "diplomacy by hostage-taking." India also debuted as Russia Energy Week's first official partner country.