President Donald Trump, left, with Russian President Vladimir Putin | File photo
\n\nIn a major u-turn, US President Donald Trump on Friday said that he is waiving many sanctions, restrictions, and duties days before they were to take effect under the Graham bill that he signed into law last month, Reuters reported. The Graham Bill had cleared the way for imposing 100 per cent sanctions on Russia and also on countries that were engaging with Moscow economically, including oil and energy trade. But this move by the Trump administration, coming just days before the sanctions were to hit the ground, has also left India watching closely the developments.
\n\nTrump's executive order comes as he has been warming toward Russia and publicly criticizing Ukrainian President Volodymyr Zelenskiy, including suggesting that Ukraine needs a new leader.
\n\nThe legislation, whose primary backer in Congress was the late Senator Lindsey Graham, would have imposed tariffs of up to 100% within 30 days on all goods brought into the US from the five largest importers of Russian crude oil or gas, as well as any country that knowingly bought oil or gas 30 days after the law was enacted or was among the top five…
Original source: https://www.timesnownews.com/business-economy
