Washington, October 17, 2026: US President Donald Trump has put on hold a new law that could have hit India, China and other big buyers of Russian oil with very heavy tariffs. He signed an executive order on Friday evening, saying the step was in the national interest of the United States.

What exactly happened

The law is called the Sanctioning Russia and Iran Act of 2026, also known as the Lindsey O. Graham Act. Trump signed it on September 18. Its goal was to put more financial pressure on Moscow over its war in Ukraine, which began in February 2022. It targets Russia’s energy sector and the countries that keep buying its oil and gas.

In his order, Trump said he was waiving the sanctions, restrictions and duties provided under the law. He also told Congress, in a formal certification, that the waiver served US interests. It will stay in place until he or his administration decides that more action is needed.

What was at stake

Under the law, duties on goods from Russia could have gone up by as much as 500%. The five biggest buyers of Russian crude oil and natural gas faced 100% tariffs if they knowingly made new purchases on or after October 18. Another 100% duty was planned for the five biggest helpers of Russia in dodging oil sanctions. All of these have now been put on hold.

India, one of the largest buyers of Russian oil, had warned Washington that extra tariffs could hurt relations between the two countries. New Delhi says it buys energy to keep supplies safe and affordable for its people. China had also opposed the plan.

Why now?

Fuel prices are a big reason. The US is facing higher energy costs because of the ongoing US-Israeli war on Iran, and new sanctions could have pushed oil prices up even more. With midterm elections coming in November, higher prices at the pump would be a political headache for Trump.

The decision has also drawn criticism. Trump recently allowed Russian diesel exports to restart to increase global supply and ease prices. Some US senators say that deal could give Moscow money to fund its war. US Representative Don Beyer said the new waiver weakens Ukraine and undercuts Congress’s efforts to punish Russia.

Rubio’s India visit

The timing matters for India too. Secretary of State Marco Rubio is set to visit Mumbai and Jamnagar, where the world’s largest refinery is located. US Ambassador to India Sergio Gor has called the trip “a little more business-focussed”. Rubio will meet officials from Reliance Industries, which runs the Jamnagar complex. Gor also noted that Reliance plans to open the first new refinery in the US in 50 years.

What comes next

The order asks the US Trade Representative to keep track of which countries buy Russian oil and gas and which ones help Moscow avoid sanctions. Officials must report to the president and point out anything that may need fresh action. The order also makes clear that older sanctions on Russia, imposed under earlier orders, remain unchanged.