India Keeps Buying Russian Oil at Near-Record Pace Despite Expired Waiver
India's crude oil imports have remained close to record-high levels in July despite the end of the U.S. waiver the previous month. The U.S. quietly let the waiver allowing the purchase of Russian oil loaded on tankers expire on June 17, just as the U.S. and Iran signed the memorandum of understandin
Source: OilPrice.com
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DW NOTE
India bought Russian oil through the entire period when US secondary sanctions theoretically barred anyone from touching Urals crude above the $60 cap. The "waiver" expired because Washington stopped enforcing a rule it never enforced. Delhi is doing what it did all last year — buying the cheapest available barrel and paying in non-dollar settlement. The only thing that's changed is that US officials no longer pretend this is temporary.