President Donald Trump issued an executive order on March 29, 2024 that lifted U.S. sanctions and barred the imposition of up to a 100‑percent tariff on Russian oil and gas sold to India and China. The order comes a day before the legislation, signed the previous month, would have taken effect, and was championed by the late Senator Lindsey Graham.
The bill, part of a broader U.S. strategy to curb Russian energy influence, had explicitly targeted importers in countries that continued to purchase Russian crude. If enacted, the tariffs would have applied to any shipment entering the U.S. market from India or China, effectively doubling the cost of their energy imports.
Trump’s decision follows a series of public statements that have softened his stance toward Moscow. In recent speeches he has criticized Ukrainian President Volodymyr Zelensky and suggested that Ukraine needs a new leadership approach, a narrative that has drawn scrutiny from international allies.
The tariff waiver is now live. Congress will soon debate the policy’s broader implications, and analysts expect the move to alter trade dynamics between the U.S., Russia, India, and China in the coming months.