India to keep Russian oil imports near current levels after Trump waiver

India is expected to maintain Russian crude imports near current levels after US President Donald Trump waived sanctions and tariffs under a new law targeting major buyers of Russian oil, analysts said. The waiver, issued Friday, applies broadly and could also benefit China. Trump's executive order waived penalties under the Lindsey O. Graham Sanctioning Russia and Iran Act, which 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 oil became a bargain for Indian refiners after Moscow's 2022 invasion of Ukraine triggered Western sanctions, with discounts on Urals crude averaging $23 per barrel in September 2026. The waiver follows an October 9 Treasury decision allowing Russian diesel imports into the US until April 2027.