US President Donald Trump has waived sanctions, restrictions and duties under the Sanctioning Russia and Iran Act, known as the Graham Act, in an executive order issued on Friday night.
Trump said the waiver is in the national interest of the United States and that he had submitted a certification to Congress. The law, passed by Congress on 16 September and signed two days later, allowed tariffs of up to 100 percent on goods from the five largest importers of Russian crude oil or gas.
He invoked section 115 of the Act, which allows the President to grant such waivers, to set aside the duties under sections 112 and 113.
The move follows a deal Trump struck with Russia days earlier for diesel supply to the US and global markets. It also comes days before US Secretary of State Marco Rubio visits India.
India’s External Affairs Minister S. Jaishankar had raised concerns about the Act with Rubio at the UN General Assembly last month. With West Asian supplies hit by the Iran war, India relies on Russian crude, according to the report. Energy prices in the region affect fuel costs in Sri Lanka, which imports all its petroleum.
