The US Treasury Department extended a sanctions waiver on Russian oil giant Lukoil, allowing its service operations outside Russia to continue until April 2027, including Lukoil petrol stations in the US until April 25, 2027. The new general licence replaces a previous one expiring this month, and still prohibits transfers of funds to parties in Russia and excludes transactions with Russia's central bank, national wealth fund and Ministry of Finance. The decision came a week after President Trump said he had reached a deal with President Putin to let Russia supply diesel to the US and global markets, a deal that deepened the rift with European partners and Ukraine. The move comes during the seven-month Iran war and disrupted tanker traffic through the Strait of Hormuz, with Brent crude settling at $105.8 a barrel.
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Expert Waiel Awwad says the US waiver of certain sanctions under the Lindsey O. Graham Act on Russian oil is a 'big relief' for India, as it should stop the rupee's depreciation and reduce inflation and oil prices. He still urges New Delhi to keep autonomous decisions on buying Russian oil and on its strategic ties with Russia. He argues President Trump is doing this to win voter support before the November midterm elections, as US fuel prices rise, and that the diesel deal with Russia surprised Ukraine and the EU. The article notes Trump waived several sanctions on Russian fuel sales, citing 'national interest', though the law, now paused, would have imposed tariffs of up to 100% on goods from the five largest importers of Russian crude oil or gas, including India and China. The diesel deal calls for Russia to supply over 300,000 tonnes of diesel immediately, 500,000 tonnes in November, and 1 million tonnes after that.
- Trump trying to gain popularity: Waiel Awwad says Russia oil sanctions waiver big relief for India
Foreign affairs expert Waiel Awwad called the waiver of sanctions under the Lindsey O. Graham Act a 'big relief' for India, saying it could stop the rupee's depreciation and reduce inflation and oil prices. He urged New Delhi to keep its autonomous decisions on Russian oil purchases and its strategic ties with Russia. Awwad said the move reflects Trump's 'America First' approach and aims to gain popularity before the November midterm elections, and that the US-Russia diesel deal surprised Ukraine and the EU. Trump waived several sanctions on Russian fuel sales that were due to take effect under the Act, citing 'national interest'. The law would have imposed tariffs of up to 100% on goods from the five largest importers of Russian crude oil or gas, including India and China.
- Trump trying to gain popularity : Waiel Awwad says Russia oil sanctions waiver big relief for India
- Asian shares are mixed with tech stocks volatile , and oil falls on Trump Russian sanctions waiver – Winnipeg Free Press
Asian shares were mixed on Monday as volatility in technology stocks persisted, while U.S. equity futures edged higher. Oil fell more than 1% after President Donald Trump waived sweeping sanctions on Russia, including on Russian energy, with Brent down 1.8% to $107.86 per barrel. South Korea's Kospi rose 1.1% to 5,729.58 but is down more than 18% over the past month, while Japan's Nikkei 225 lost 0.8% to 64,799.03. Indonesia's stock index fell another 5% to its lowest since 2020, after plunging over 11% on Friday following an MSCI warning about a possible downgrade. Tech shares have been sold off recently over concerns about the sustainability of the AI boom, and on Friday the S&P 500 fell 1.1% and the Nasdaq sank 2.1%.
- Asian shares are mixed with tech stocks volatile , and oil falls on Trump Russian sanctions waiver
Asian shares were mixed Monday as volatility in technology stocks persisted, while U.S. futures edged higher ahead of another busy earnings week. South Korea's Kospi rose 1.1% to 5,729.58 but remains more than 18% lower over the past month and far below the 9,000 level it crossed at its June peak, while Japan's Nikkei slipped 0.8% and Indonesia's index plunged 5% to its lowest since 2020 after MSCI flagged a possible downgrade from emerging-market status. Oil fell more than 1% after Trump waived sweeping Russia sanctions, with Brent down 1.8% to $107.86 a barrel. Wall Street had closed lower Friday, with the S&P 500 down 1.1% and the Nasdaq sinking 2.1%. Oil remains elevated compared with levels before the Iran war, with Middle East supply risks still adding upward pressure.
- Trump waives several Russia sanctions
Trump has blocked numerous Russia sanctions two days before they were due to take effect, deepening his row with Ukrainian President Volodymyr Zelensky. The sanctions were passed by Congress and signed into law by Trump in September, but his executive order on Friday night said suspending some was in the US 'national interest', drawing backlash from US lawmakers. Ties with Kyiv have frayed after the US struck a controversial deal to import Russian diesel, and Ukraine accused the administration of withdrawing key military support. The law gave Trump power to levy tariffs of up to 100% on the top five buyers of Russian oil and gas, mainly China and India, and targeted Putin, Russian banks and the 'shadow fleet', but many of these provisions are now waived. Democrats including Virginia Congressman Don Beyer accused Trump of capitulating to Moscow and betraying Ukraine.
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