Washington. US President Donald Trump has immediately waived off the new US tariffs imposed in this regard, giving a big relief to the countries buying Russian oil. The decision, which comes just a day before the 100 per cent duty provision comes into effect, is being considered a major diplomatic victory for major oil importers like India and China. This development is very important just before the visit of the US Secretary of State to India.
New laws and provision of 100% fee
Recently, President Trump signed an executive order, under which ‘Lindsay O. The ‘Graham Sanctions Russia and Iran Act 2026’ was implemented in the country. According to the provisions of this new law, a heavy duty of up to 100 percent was to be imposed on all goods coming from the top five largest buyer countries of Russian oil and gas. The rule was scheduled to come into effect on new purchases after the October 18 deadline, while the law also gave it the power to impose a duty of up to 500 percent on Russian products.
Trump gave exemption using Section 4
Just before the deadline, President Trump invoked Section 4 of the same executive order to put a halt to all of these potential tariffs with immediate effect. He clearly wrote in his order that he waives the imposition of any charges under the sections of the Graham Act and this order. This relief will continue until the US President or the concerned minister decides to take any new guidelines or steps in this matter. Although the name of any country has not been directly mentioned in this official order, the biggest and direct benefit of this decision has been received by countries like India and China which import energy products from Russia on a large scale.
