Trump Administration Offers Relief to India and China

US President Donald Trump has signed an executive order waiving several sanctions, restrictions and tariffs under the newly enacted Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. Dated October 16, the order allows exemptions from certain measures that could have imposed tariffs of up to 100% on goods from countries purchasing Russian crude oil and natural gas. Trump said the waivers were in the national interest of the United States and submitted the required certification to Congress.

The decision could offer relief to India and China, two major buyers of Russian oil, by easing concerns over potential trade barriers and economic consequences. However, the order does not remove all existing US sanctions against Russia. Earlier restrictions remain in place, and the US administration may take further action. The actual impact will depend on future policy decisions, global oil prices and how the remaining trade restrictions are implemented.