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CommoditiesMediumUpdated•Originally published 29 September 2026•Updated 29 September 2026•
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India Maintains Russian Oil Imports Despite Trump's 100% Tariff Threat

Key Facts

1U.S. President Donald Trump signed the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026,' authorizing tariffs up to 100% on countries dealing with Russia and Iran.
2Analysts suggest India is unlikely to fully replace its Russian crude oil imports despite potential U.S. trade tariffs.

U.S. President Donald Trump signed the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026,' authorizing tariffs of up to 100% on countries dealing with Russia and Iran. Reuters reported that the law allows the President to impose these trade penalties on major importers of Russian oil and natural gas to curb revenue flows to sanctioned nations.

Analysts cited by Oilprice.com suggest India is unlikely to fully replace its Russian crude oil imports despite the potential for U.S. trade tariffs. This geopolitical tension persists as India maintains heavy reliance on Russian energy; meanwhile, internal data from September 23, 2026, showed India's Manufacturing PMI reached 55.7, exceeding the forecast of 53.2.

Latest Updates · 1

  1. Notable·

    Update: The Director of Finance at Oil India Limited (OIL) announced that India is aiming to boost domestic oil and gas exploration. This strategic shift is intended to secure energy supplies and counter potential supply chain threats in the Strait of Hormuz.