WASHINGTON — US President Donald Trump will take up to 60 days to assess the economic impact of sanctions and tariffs targeting Russia and countries that buy Russian oil and gas, Secretary of State Marco Rubio has said.
Trump recently suspended key measures under the Graham Act, which was designed to increase pressure on Moscow over its war in Ukraine. The measures included potential tariffs on countries importing Russian energy. The temporary waiver gives countries such as India relief from the planned penalties while the administration reviews their possible effects.
Rubio said the review would consider the consequences for both the US economy and global markets. Trump has not announced a final decision on what action will follow the assessment.
The move comes as rising energy prices put pressure on the US administration ahead of November’s midterm elections. Conflicts affecting global oil supplies have added to concerns about the economic impact of restrictions on Russian energy exports.
India, a major buyer of Russian oil, could benefit from the temporary relief. However, the longer-term position remains uncertain, with the administration expected to assess the issue over the coming weeks before deciding whether to proceed with the measures.
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