US waives Russian-oil tariffs, but uncertainty prevails

The United States’ decision to waive additional tariffs linked to India’s purchases of Russian oil provides temporary relief to New Delhi but offers no lasting certainty, as Washington retains the authority to reinstate the duties, according to a report by the Global Trade Research Initiative (GTRI).

US President Donald Trump waived the punitive tariffs on October 16 under the newly enacted Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 (SRIA), easing the threat of additional duties of up to 100 per cent on goods from major buyers of Russian oil. However, the report noted that the underlying legislation remains in force, allowing Washington to withdraw the waiver at any time and use the threat of tariffs as leverage in future bilateral trade negotiations.

“The waiver has no fixed expiry date, but it can be withdrawn,” GTRI said in its report, highlighting the uncertainty surrounding India’s trade and energy security outlook.

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