Gulte Movie News And Politics
Last month, Donald Trump’s administration passed a law that threatened 100 % tariffs on countries which buy Russian oil. Many believed that India and China will face the consequences of this law as both countries are importing crude oil Russia in large quantities.
But, Trump has now has decided to waive off the strict Russia oil sanctions just a day before they were going to start. This move brings huge relief to both India and China who are among the top five countries doing business with Russia.
Trump used special power given to the president through that same act to give this waiver. He sent a formal message to Congress explaining his choice. He said that pausing these heavy duties is important for protecting current US interests and keeping world markets stable.
The whole issue started because of a tough new law called the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. This act wanted to stop money from going into Moscow during the Ukraine war. It planned to put up to one hundred percent tariffs on products coming into America from nations that still bought Russian energy.
Indian government already stated that imposing tariffs over purchase of Russian oil could affect the bilateral ties of both countries and will have a ripple effect on many other diplomatic issues. Trump also faced severe criticism for his double standards after he recently inked a deal with Russia to purchase oil.
For now, the decision not to impose any further sanctions on India will be a big relief. Global markets reacted quickly to the sudden news. Oil prices settled down after weeks of high worry and panic buying.
