US President Donald Trump wants a 60-day period to assess the potential economic consequences of imposing sanctions on Russia and tariffs on countries purchasing Russian oil, Secretary of State Marco Rubio said on Saturday. The move comes after Trump waived key provisions of the Graham Act, providing temporary relief to India and other countries affected by the proposed measures.
Rubio made the remarks while responding to questions ahead of his departure for a week-long visit to Uzbekistan and India. He said the administration was examining how the proposed measures could affect both the global economy and the United States.
“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,” Rubio said.
On Friday, Trump waived key provisions of the Graham Act, which authorises punitive tariffs on countries purchasing Russian oil. The decision offers temporary relief to India, which continues to import a substantial volume of crude oil from Russia.
According to the executive order signed by Trump, the waivers will remain in effect until the President or the Secretary of State, in consultation with the Treasury Secretary and the US Trade Representative, determines that further action is necessary.
Rubio said the administration needed to consider several interconnected geopolitical developments before deciding on the appropriate course of action.
These include disruptions to global energy supplies linked to the conflict involving Iran, attacks by Houthi forces in Saudi Arabia, and the ongoing Russia-Ukraine war.
He said these factors must be weighed against one another before Washington determines how sanctions and tariffs should be implemented.
Addressing India's continued purchases of Russian oil, Rubio acknowledged that changing energy suppliers was not an immediate process, even for countries seeking to diversify their sources of supply.
“Then you've got countries like India, for example, that have voluntarily diversified their energy portfolio, but are still getting a substantial amount of energy from Russia because it's hard to pivot from one day to the next,” he said.
His remarks highlighted the challenges India faces in reducing its dependence on Russian crude while maintaining energy security and managing the economic implications of any sudden change in supply.
India has diversified its energy sourcing in recent years, but Russian oil remains a significant component of its imports. A rapid shift away from Russian supplies could require adjustments to procurement arrangements and access to alternative sources.
Rubio described India as an important ally and partner of the United States, emphasising that the Trump administration needs time to assess the wider implications of its policy options.
He said the 60-day period would allow the President to examine the available choices and determine the most appropriate combination of sanctions and tariffs.
Rubio's scheduled visit to India on Monday comes amid continuing discussions over energy trade, bilateral relations and Washington's approach towards countries maintaining economic ties with Moscow.
The temporary waiver and the proposed assessment period suggest that the US administration is weighing its efforts to exert economic pressure on Russia against the potential consequences for international energy markets and key partners such as India.
The outcome of the review could have implications for India's energy procurement strategy and its broader economic relationship with the United States.