Rubio explains why Trump waived sanctions against Russia, says administration needs time to assess impact

US Secretary of State Marco Rubio has said that President Donald Trump had signed an executive order waiving the imposition of sanctions against Russia under the Graham Act for 60 days to assess how they might affect the US and global economies.

Source: Marco Rubio speaking to journalists, as reported by European Pravda

Quote: "The problem is these sanctions were not just sanctions on Russia. They include tariffs on a number of countries – India, for example, and others. And so 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.

I think when the bill was passed, one of the reasons the waivers were put in there is understanding that they would need some period of time to study this, given all the different things that are going on in the world right now, including the pressure on global energy supplies."

Details: Rubio said that global energy prices have been affected not only by the situation in Iran and the Strait of Hormuz, but also by Houthi attacks on Saudi Arabia and, supposedly, the war between Russia and Ukraine, "where energy infrastructure is being hit".

He noted that the administration needs 60 days to "take all of that into account and weigh it against each other".

Rubio cited India as an example, saying that the country has voluntarily diversified its supplies but still obtains a significant share of its energy resources from Russia.

When asked by a journalist whether the decision amounts to a gift to Russian ruler Vladimir Putin, the secretary of state said Russian diesel fuel "was going to be sold one way or the other".

Quote: "The diesel that Putin was going to sell, they will make it available to the global market one way or the other. The only difference is how much of it the United States was going to get. But this is not unprecedented. If you recall, a few months ago, we also did a 60-day waiver on Russian oil when Hormuz was being challenged."

Details: Rubio noted that conflicts around the world are now interconnected and could therefore create uncertainty in global energy markets.

"So all of these things have to be managed delicately because they're all coming together now. It's not just the Strait of Hormuz anymore. It's what's happening with Saudi Arabia and the uncertainty that that's creating. It's also what's happening between Russia and Ukraine and the constraints that's putting on global energy supplies," he added.

Background:

• On 16 October, Trump signed an executive order waiving the application of sanctions against Russia under the Graham Act. He said the decision was in the US national interest. The deadline for Trump to impose new sanctions on Russia expires on 18 October.
• Ukrainian President Volodymyr Zelenskyy said the Graham Act could still put pressure on Russia despite Trump's decision not to introduce new restrictions under it for the time being.
• Senator Richard Blumenthal, who helped draft the Graham Act, sharply criticised Trump for refusing to take further steps to put pressure on Russia under the law.

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