In a move offering relief to several countries, including India, US President Donald Trump has waived key sanctions and tariffs linked to Russian exports.
Trump signed an executive order on Friday waiving US sanctions and tariffs targeting Russia’s energy revenues. The measures included duties on Russian goods and penalties for countries purchasing Russian oil and gas. The directive came a day before the levies were scheduled to take effect under a bill he signed last month.
Trump said the waiver was being issued in the national interest of the United States. Last month, Trump signed the Graham Act, which gave him 30 days to impose 100 per cent tariffs on all goods imported from countries buying Russian crude, including India and China.
The legislation also provided for sanctions against numerous Russian entities and 500 per cent tariffs on all US imports of Russian energy products. The one-month deadline was set to expire on October 18.
File Photo.
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