India likely to keep buying Russian oil after Trump waives sanctions
What Happened
India is expected to continue importing Russian crude at around current levels after US President Trump waived sanctions, restrictions and duties under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The law had authorised tariffs of up to 100% on goods from the five largest buyers of Russian crude and gas. India has averaged about 1.8 million barrels per day of Russian seaborne crude this year. Kpler expects October imports to remain around 1.8-1.9 million bpd.
Key Takeaways
The waiver removes the immediate threat of the new Russia-linked tariffs, giving Indian refiners room to continue Russian crude purchases. However, the relief is not necessarily permanent, as the US administration retains the ability to reconsider the measures later.