US President Donald Trump has issued a new executive order to suspend major sanctions and heavy trade penalties against Russia under the Graham Act. This decision brings huge relief to India, protecting its economy from potential import duties.
The law, officially named the Lindsey O Graham Sanctioning Russia and Iran Act, required the US government to put up to 100 percent tariffs on countries buying Russian crude oil. Since India is one of the top importers of discounted Russian oil, these strict rules could have hurt Indian exporters and raised local fuel prices.
Just before the official deadline, President Trump stepped in and paused the sanctions. He stated that waiving these trade penalties is in the national interest of the United States and will help keep global energy prices stable. For Indian citizens, this news comes as a major comfort. Russia remains India's primary supplier of affordable crude oil. By removing the threat of US trade penalties, India can keep securing steady energy supplies without facing sudden price spikes at petrol pumps.
