The pause follows Trump’s decision to waive provisions of the Lindsey O. Graham Sanctioning Russia and Iran Act, which threatened tariffs of up to 100 percent on major Russian energy purchasers. Rubio noted that the administration must balance these punitive measures against broader geopolitical stressors, including the US-Iran conflict and disruptions in Saudi Arabia, which have already strained global energy pricing.
For India, the world’s third-largest oil consumer, the reprieve offers breathing room for its refining sector. Since 2022, Russian crude has surged from a negligible share to nearly 50 percent of India’s total imports due to deep price discounts. While New Delhi has signaled a commitment to diversifying its energy portfolio, the Ministry of External Affairs emphasized that it would prioritize the energy security of its 1.4 billion citizens while protecting national trade interests. The administration’s strategic review is expected to determine whether the current waiver will be extended or if tighter restrictions will eventually be enforced.
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