Waiver 60-day pause; Europe refused to sanction China, India over Russia oil, says US

Economic Times - Oct 18, 2026

The US announced a 60-day pause on sanctions against Russia to analyze the effects on the global economy. Officials clarified that no sanctions were lifted as part of the Graham Act. Secretary of State Marco Rubio emphasized the need for this evaluation amid geopolitical tensions. Critics from both parties expressed their discontent regarding Trump's decision to waive the sanctions.

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