Graham Act waiver: Trump seeks 60 days, India to keep Russian oil imports
Why in the news
US President Donald Trump issued an executive order late on 16 October 2026 waiving the main sanctions and tariffs under the Graham Act. On 17 October, Secretary of State Marco Rubio said the President wants 60 days to assess the impact, and India is expected to keep Russian oil imports near current levels.
Key facts
- Law: Lindsey O. Graham Sanctioning Russia and Iran Act (Graham Act), signed by Trump on 18 September 2026.
- Provisions: tariffs of up to 100% on goods from the five largest importers of Russian crude and gas, plus sanctions on Russia’s shadow tanker fleet.
- Waiver: came a day before a 30-day enforcement deadline; not specific to India and may also help China; can be revisited later.
- Rubio: said India has diversified its energy sources but cannot switch overnight; he is due in India on Monday, 19 October, during a tour of Uzbekistan and India.
- Diesel: on 9 October the US Treasury allowed sale and import of Russian diesel until 7 April 2027.
| Russian crude imports | India | China |
|---|---|---|
| September 2026 | 1.82 million bpd | 1.49 million bpd |
| 2026 average | 1.8 million bpd | 1.2 million bpd |
About India’s Russian oil trade
Russian oil was about 2% or less of India’s imports before the February 2022 invasion of Ukraine; Russia later became India’s top crude supplier, at times meeting 40-50% of imports. India’s imports peaked at 2.6 million bpd in June 2026. Urals crude averaged a discount of $23 a barrel to Brent in September. Kpler sees October imports at 1.8-1.9 million bpd.
Exam angle
- India was the largest buyer of Russian crude in 2026, ahead of China; Italy, Turkey and the Netherlands completed the top five.
- Note the 100% tariff ceiling and the 60-day review.
- Links to energy security and India-US ties.