India Keeps Buying Russian Oil at Near-Record Pace Despite Expired Waiver

India is still buying Russian crude at close to record volumes, according to a report from OilPrice.com, even after a U.S. waiver that had given New Delhi cover for those purchases expired.

The OilPrice.com report states plainly that Indian buying is continuing "despite" the waiver lapsing — meaning Indian importers are now operating without whatever specific U.S. cover previously applied to this trade. The report does not detail the terms of that waiver, when it took effect, or the mechanics of how it had functioned.

What We Actually Know

The available reporting confirms the core fact: near-record Russian oil purchases by India are continuing after the waiver's expiration. It does not specify what enforcement action, if any, the U.S. Treasury or State Department plans to take now that the waiver has lapsed. No new sanctions designations targeting Indian refiners or shipping intermediaries tied specifically to this expiration are described in the available reporting.

One concrete data point is available: the Indian Basket crude benchmark was priced at $83.06 a barrel in the most recent reading cited alongside the report, up roughly 2% from the prior reading. That figure reflects general price movement rather than any detail about the volume or terms of Russian crude purchases specifically.

What's Unresolved

Beyond the headline claim, the sourcing available does not establish why the waiver existed, what specific mechanism it provided, or how Washington and New Delhi are handling its expiration going forward. It's not clear from the available reporting whether U.S. authorities are quietly tolerating continued Indian purchases, or whether enforcement is simply lagging the policy change. Neither has been confirmed on the record.

What's clear from the reporting is the headline trade flow itself: India's refiners are buying Russian oil at near-record levels, and the formal U.S. waiver that had previously accompanied those purchases is gone. Whether the U.S. Treasury issues any new guidance, sanctions designations, or enforcement actions tied specifically to the waiver's expiration remains to be seen.