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India weighs Russian oil import cuts following new US sanctions law
The United States has enacted the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, signed into law by President Donald Trump on September 18. The legislation empowers the US administration to impose tariffs of up to 100% on all goods from any of the five largest importers of Russian crude oil or gas if those nations continue to engage in new transactions with Russia.
India, a major BRICS member and the world's second-largest buyer of Russian crude, is facing significant trade risks. Indian Commerce and Industry Minister Piyush Goyal stated that the government is studying the details of the new law. Reports indicate that Indian refineries are already seeking alternative energy sources to avoid US tariffs, with some suggesting a reduction of Russian crude imports to between 20% and 30% of their total supply.
Data from Kpler shows that India's Russian crude imports averaged approximately 1.9 million barrels per day in September, a decrease from previous months. This development occurs as India and the US continue to negotiate a bilateral trade agreement, adding complexity to the diplomatic and economic relationship between the two nations.
Entities
Donald Trump · India · Piyush Goyal · Russia · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The new law authorizes the US President to impose tariffs of up to 100% on all goods from any of the five largest importers of Russian crude oil or gas if they continue new transactions. cafef.vn · www.sentinelassam.com · www.kyivpost.com
- [○ 1 SOURCE] India is reportedly considering a reduction in Russian crude imports, potentially beginning in November, to avoid US tariffs. www.kyivpost.com
- [○ 1 SOURCE] India's Russian crude imports averaged approximately 1.9 million barrels per day in September. www.kyivpost.com
- [○ 1 SOURCE] India's Commerce and Industry Minister Piyush Goyal stated that the country will study the details of the US tariffs before discussing the matter. www.sentinelassam.com
- [○ 1 SOURCE] China was the largest importer of Russian crude oil in August. www.kyivpost.com
- [● 2 SOURCES] President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law on September 18. www.sentinelassam.com · www.kyivpost.com