What happened
President Trump issued an executive waiver under the Graham Act on October 16, 2026, removing the immediate tariff threat.
Why it matters
Indian refiners face lower immediate trade risk and can continue sourcing discounted Russian grades for the near term.
Remember this
The waiver stabilises near-term Russian crude supplies to India, the world's largest buyer of seaborne Russian oil.
More context & who is affected
An executive waiver of the Graham Act on October 16, 2026 removed the immediate threat of US tariffs on Russian crude, easing the political risk for major buyers and their supply chains.
Ship-tracking and market data show India now takes the largest share of seaborne Russian barrels at roughly 1.8 million barrels per day; September flows were about 1.82 million bpd and mid-2026 peaks neared 2.6 million bpd.
The waiver makes it more likely Indian refiners will continue sourcing discounted Russian grades for the near term, helping sustain refinery throughput and reducing immediate price pressure for consumers.
- India's daily Russian crude imports
- 1.8 million bpd India is the largest importer of Russian seaborne crude, averaging about 1.8 million barrels per day.The Hindu
India's dependence on Russian crude
Before the Ukraine war, Russia supplied less than 2% of India's crude imports. By mid-2026 it became India's largest crude supplier, accounting for as much as 40-50% of total imports.
General Public
Stable Russian supplies should help keep fuel availability steady and support refinery runs.
Business Executives
Continued access to cheaper Russian crude may blunt immediate domestic price spikes for refiners.
Reporting fromThe Hindu ↗Livemint ↗
Sources & verification2 sources · 4 claims
These are the records behind this briefing. Linked reporting is not the same as independent confirmation.
- The HinduReporting
India's Russian crude binge to continue after Trump waives new sanctions law ↗
Published Oct 17, 2026 · Accessed Oct 17, 2026 - LivemintReportingPublished Oct 17, 2026 · Accessed Oct 17, 2026
Claims and linked sources
President Trump issued a waiver under the Graham Act on October 16, 2026, removing an immediate US tariff threat one day before the 30-day enforcement deadline would have taken effect.
India imports about 1.8 million barrels per day of seaborne Russian crude on average, the largest share globally, ahead of China at 1.2 million bpd.
Kpler estimated September Russian flows to India at roughly 1.82 million bpd, with October expected near 1.8-1.9 million bpd.
Indian imports of Russian crude peaked at 2.6 million bpd in June and 2.57 million bpd in July 2026, showing a subsequent decline.
