Tuesday, 02 January 2024 12:17 GMT

Russia Sanctions Waiver: Rubio Calls India 'Important Ally' Says It Is Hard To Pivot Energy Portfolio In One Day


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(MENAFN- Live Mint) A day after US President Donald Trump announced he would waive key sanctions related to Russia under the Graham Act, Secretary of State Marco Rubio on Saturday (local time) explained why the US waived some energy tariffs, adding that while India has diversified its energy imports, it would be difficult for New Delhi to "pivot" from Russian imports in a day.

His remarks came after Trump waived some tariffs that could have likely targeted India and four other countries that are some of the biggest buyers of Russian crude oil and gas.

Rubio, who made these remarks ahead of his departure for a week-long tour of India and Uzbekistan, added that the sanctions were waived because the US President wants to take a 60-day period to analyse what the implications of imposing sanctions on Russia and tariffs on other countries would be for the global economy.

He said, "I think the president wants to take the 60-day period of time to sort of analyse what imposing both sanctions and tariffs will mean to the global economy, and even to the US economy."

This story will be updated with additional details.

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Live Mint

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