17 October,2026 04:12 PM IST | New Delhi | mid-day online correspondent
Representational Image. File pic.
The Global Trade Research Initiative (GTRI) on Saturday said India should safeguard its energy security and buy oil on commercial terms as the US waiver on tariffs up to 100 per cent on countries importing oil from Russia is not a "lasting certainty", according to news agency PTI.
US President Donald Trump has waived tariffs and several sanctions provisions under a new law targeting buyers of Russian oil and gas, sparing countries such as India and China from the immediate threat of additional duties of up to 100 per cent.
GTRI said the Sanctioning Russia and Iran Act (SRIA) only offers India temporary relief from threatened additional duties of up to 100 per cent linked to Russian oil purchases but can be withdrawn at any stage.
"But the relief is reversible. Washington can restore the tariffs anytime, leaving India and other buyers uncertain about future US action," it said.
It noted that SRIA remains a law, and the US can revive the tariff threat as a leverage to seek greater concessions in bilateral trade talks with India.
The think tank said US Trade Representative will continue monitoring Russian energy purchases, allowing Washington to review the waiver and retain the tariff threat as leverage in future negotiations, as per PTI.
"For India, the waiver buys time but offers no lasting certainty. India should protect its energy security, buy oil on commercial terms and prepare for renewed US pressure. Temporary tariff relief is no basis for permanent trade concessions," GTRI Founder Ajay Srivastava said.
On Friday, Trump said he had submitted the required written certification to Congress stating that the waivers were in the national interest of the United States, along with a report explaining the basis for the decision.
However, GTRI pointed out that US had implemented the Graham Act while putting the penalties on hold.
It provided for a 100 per cent increase in duties on goods from the five leading facilitators of Russian oil sanctions evasion, alongside a 500 per cent increase in duties on goods from Russia.
"Trump simultaneously invoked Section 115 of the Act to waive these duties. The waiver has no fixed expiry date, but it can be withdrawn," Srivastava said.
Srivastava pointed out that the latest move from Washington reflects the trade uncertainty, where the US threatens tariffs and then retreats when enforcing them conflicts with its own interests.
GTRI noted that Russia's share of Indian oil imports fell from 51 per cent in July to 44 per cent in August. It said despite the higher prices, India bought more from the US, and from the UAE.
Srivastava said that SRIA became law on September 18, but the US agreement on October 9 to buy Russian diesel made it difficult for the Trump administration to penalise other buyers of Russian oil.
"Punishing other countries for buying Russian energy while doing so itself would invite accusations of double standards," he said. He pointed out that US had agreed not to raise tariffs on China until January 10 under a deal reached during President Xi Jinping's US visit last month.
"China already had protection against US tariff increases until January 10. The message is clear - US interests determine when penalties apply, while the ability to retaliate helps secure protection. China can push back. India risks repeated pressure unless it demonstrates that coercion carries a cost," Srivastava said.
(With inputs from PTI)
