India 'Closely Monitoring' US Bill Proposing 100% Tariffs Over Russian Oil
The Indian government is monitoring a proposed US bill that could impose 100% tariffs on countries purchasing significant amounts of Russian oil. The legislation aims to sanction nations that facilitate Russian sanctions evasion through energy imports.
Why it matters
This bill represents a potential shift in US-India trade relations and energy policy, directly impacting India's strategy to secure affordable energy for its population.
Days after the US Senate cleared a new bill that would authorise President Donald Trump to impose tariffs of up to 100 per cent on India, China and other major buyers of Russian oil and gas, New Delhi on Friday said it was closely monitoring the situation.The bill will now be taken up by the House of Representatives for deliberation."On energy security, our position has been clarified and very well articulated on several occasions. It is something which is predicated on our national priorities and on securing the energy needs of our 1.4 billion people through diversified sources, which includes the US," External affairs ministry spokesperson Randhir Jaiswal said.He was responding to a question on the US Senate clearing the bill by 86-12 vote."We remain engaged with relevant stakeholders in the US at various levels on this particular matter," Jaiswal said.The Lindsey O Graham Sanctioning Russia and Iran Act of…
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