US Tariff Threat on Russian Oil Eases for India as Waiver Takes Effect

The United States has waived new tariffs on countries buying Russian oil, giving India temporary relief from a 100 percent duty that could have raised export costs. President Donald Trump signed the waiver on October 16 under the Graham Act. The waiver suspends provisions targeting major Russian oil importers, including India, which bought 1.74 million barrels daily in September. The policy evolved from a proposed 500 percent tariff to the current framework, with the waiver citing US national interests. India previously faced a 25 percent tariff in 2025 over Russian oil purchases, removed in February 2026. The waiver follows a US-Russia diesel deal on October 9, raising questions about double standards, though the Graham Act remains in force for future action.