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 understanding to continue negotiations on a deal.

Yet, Indian imports of Russian crude has continued to flow in July, many of which may have been cargoes that were arranged during the window covered by the U.S. waiver.

So India's imports of crude oil from Russia…