Rubio: Trump may take up to 60 days to decide on Russia sanctions

what happened

A day after suspending sanctions and tariffs tied to Russian exports, Donald Trump told reporters on Saturday that he has not yet made a final call. Secretary of State Marco Rubio said the president could take as long as 60 days to measure the economic effects, according to TradingView.

The pause comes a few weeks before the November midterm elections, and Trump faces pressure over high energy prices as the war with Iran disrupts oil flows. The order sets aside key measures under the Graham Act, a law lawmakers pushed through to pressure Moscow over the war in Ukraine. Those measures included tariffs on Russian goods and penalties for countries buying Russian oil and gas, and were due to start next week. Rubio noted that India, an important US partner, still relies heavily on Russian crude.

Separately, Washington reached a deal with Moscow to expand diesel supplies to world markets. Trump said Russia would first ship over 300,000 metric tons of diesel to the US, with further cargoes in November and beyond.

why it matters

For energy markets, a possible pause in sanctions combined with extra diesel flows could ease fuel tightness, but uncertainty over Russian oil remains. Brent and diesel prices will depend on what measures follow the 60-day review.

market impact

Brent, diesel: possible sanctions easing and extra diesel supply weigh on fuel prices

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