India gets temporary Russia oil tariff relief, but long-term uncertainty remains: GTRI

US President Donald Trump waived additional tariffs of up to 100 per cent on major buyers of Russian oil, granting temporary relief to India, though the threat of renewed duties persists, according to the Global Trade Research Initiative (GTRI). The waiver, signed Friday under the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, suspends duties but has no fixed expiry and can be withdrawn. GTRI advised India to buy oil on commercial terms and prepare for renewed US pressure, as existing sanctions remain unaffected. GTRI suggested Washington's decision was influenced by its own purchase of Russian diesel, a tariff pause on China, and ongoing trade talks with India. Russia's share of India's oil imports fell from 51 per cent in July to 44 per cent in August, while US monitoring of energy purchases continues.