India to keep buying Russian crude after Trump waives sanctions law

India will likely maintain current Russian crude import levels after US President Donald Trump waived sanctions and tariffs mandated by a new federal law targeting major buyers of Russian oil, analysts said. Trump issued an executive order on Friday waiving penalties under the Lindsey O. Graham Sanctioning Russia and Iran Act, which had authorized tariffs up to 100 percent on goods from the five largest importers of Russian crude and gas. India is the largest importer of Russian seaborne crude, averaging 1.8 million barrels per day this year, ahead of China at 1.2 million. Russian crude emerged as a bargain for Indian refiners after Moscow's 2022 invasion of Ukraine triggered Western sanctions, with discounts at times approaching USD 40 per barrel. Russian oil now accounts for around 40-50 percent of India's total imports, reshaping its crude sourcing mix.