Expert Waiel Awwad says the US waiver of certain sanctions under the Lindsey O. Graham Act on Russian oil is a 'big relief' for India, as it should stop the rupee's depreciation and reduce inflation and oil prices. He still urges New Delhi to keep autonomous decisions on buying Russian oil and on its strategic ties with Russia. He argues President Trump is doing this to win voter support before the November midterm elections, as US fuel prices rise, and that the diesel deal with Russia surprised Ukraine and the EU. The article notes Trump waived several sanctions on Russian fuel sales, citing 'national interest', though the law, now paused, would have imposed tariffs of up to 100% on goods from the five largest importers of Russian crude oil or gas, including India and China. The diesel deal calls for Russia to supply over 300,000 tonnes of diesel immediately, 500,000 tonnes in November, and 1 million tonnes after that.
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Original headline: Trump trying to gain popularity : Waiel Awwad says Russia oil sanctions waiver big relief for India
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US President Donald Trump has waived additional 100% tariffs on the five largest importers of Russian crude oil under the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, giving India immediate relief from the risk of new trade penalties and more flexibility in crude purchases. Experts warn the benefit is uncertain and depends on oil prices, supply conditions and future US trade policy. The waiver has no fixed expiry and can be withdrawn; GTRI calls it temporary relief, noting Russia's share of India's oil imports fell from 51% in July to 44% in August. Former BPCL director R Ramachandran said the main gain is more crude choices rather than higher refining margins, while CareEdge's Rajani Sinha expects India's current account deficit to stay at 0.8–1.2% of GDP at USD 80–100 per barrel, rising toward 1.5% under adverse conditions.
- Trump Russian oil tariff waiver offers India relief , but experts warn of renewed US pressure
US President Donald Trump signed an executive order waiving additional tariffs of 100% on goods from the five largest importers of Russian crude oil and natural gas that make fresh purchases from October 18. The waiver has no fixed expiry and can be withdrawn, while existing Russia-related sanctions remain in place. GTRI says the move gives India only temporary relief, as Washington could restore tariff pressure in future trade talks. Former BPCL official R Ramachandran says the main benefit for Indian refiners is more crude sourcing choices rather than higher margins, while CareEdge chief economist Rajani Sinha expects India's current account deficit at 0.8 to 1.2% of GDP if crude trades at USD 80 to 100 per barrel, rising toward 1.5% under adverse conditions.
- Trump Russian oil tariff waiver offers India relief , but experts warn of renewed US pressure
- Trump trying to gain popularity: Waiel Awwad says Russia oil sanctions waiver big relief for India
Foreign affairs expert Waiel Awwad called the waiver of sanctions under the Lindsey O. Graham Act a 'big relief' for India, saying it could stop the rupee's depreciation and reduce inflation and oil prices. He urged New Delhi to keep its autonomous decisions on Russian oil purchases and its strategic ties with Russia. Awwad said the move reflects Trump's 'America First' approach and aims to gain popularity before the November midterm elections, and that the US-Russia diesel deal surprised Ukraine and the EU. Trump waived several sanctions on Russian fuel sales that were due to take effect under the Act, citing 'national interest'. The law would have imposed tariffs of up to 100% on goods from the five largest importers of Russian crude oil or gas, including India and China.
- Indian refiner fuel exports to the West jump 43 % as they keep processing Russian crude
Refineries in India, Turkiye and Brunei that process Russian crude shipped 1 billion euros ($1.2 billion) of oil products to sanctioning countries in September, up 43 per cent from August, according to CREA. Reliance's Jamnagar refinery supplied six of the seven cargoes unloaded at EU ports that month despite the EU ban on fuel refined from Russian crude, though the ban's exemption for net crude exporters leaves a gap, CREA says. CREA estimated 295 million euros of the exports came from Russian crude and urged refinery-level restrictions, a recommendation from an advocacy group rather than policy. India's Russian crude imports fell 13 per cent in September, their second straight monthly decline, while Kpler analysts expect October imports to hold at 1.8–1.9 million barrels per day.
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