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The Economic Times

Business

India's Russian crude binge to continue after Trump waives new sanctions law

Oil Donald Trump India Sanctions China Russia United States

New Delhi: India is expected to keep importing Russian crude at close to current levels after US President Donald Trump waived sanctions and tariffs mandated by a new law on major buyers of Russian oil, analysts said.

Trump issued an executive order late on Friday waiving the "sanctions, restrictions, and duties" under the Lindsey O. Graham Sanctioning Russia and Iran Act, a day before a 30-day deadline for enforcement expired. He signed the law on September 18.

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