India says it will protect energy security for its 1.4 billion people after the US Congress cleared legislation that could allow tariffs of up to 100% on countries buying Russian energy. New Delhi has also warned of implications for India-US relations and global energy markets.
Highlights
- US Congress has cleared a sweeping sanctions package targeting Russia and Iran, sending it to President Donald Trump.
- The legislation could allow tariffs of up to 100% on countries buying Russian oil and gas, potentially affecting India.
- India said it has already conveyed its concerns to US interlocutors.
- New Delhi warned about potential implications for bilateral ties and international energy markets.
New Delhi: India has warned that potential new US tariffs linked to purchases of Russian oil could have implications for bilateral relations, after the US Congress cleared legislation designed to increase economic pressure on Russia.
The legislation has been sent to US President Donald Trump after receiving congressional approval. The package targets Russia’s energy and defence sectors, senior Russian officials and entities associated with Moscow’s energy revenues.
A key provision could expose countries purchasing Russian oil and gas to tariffs of up to 100%. India, one of the world’s largest crude oil importers, could be affected because of its purchases of Russian energy.
India Flags Impact on Bilateral Ties
Responding to the development, India’s Ministry of External Affairs said New Delhi had taken note of the legislation and had raised its concerns with various US interlocutors in recent months.
According to the ministry, India has clearly communicated the potential implications for its bilateral relationship with the US as well as for the international energy market.
India also stressed that ensuring energy security for its 1.4 billion people remains a priority. The government said its sourcing decisions would continue to be guided by diversification and changing market conditions.
India Vows to Protect Economic Interests
New Delhi said it would take necessary measures to safeguard India’s trade and economic interests. The government is also expected to work with trade and industry stakeholders while assessing the implications of the US legislation.
India has consistently maintained that access to secure, affordable and reliable energy supplies is essential for its large population and growing economy.
The latest development puts Russian energy purchases back at the centre of India-US economic relations, with attention now turning to the implementation of the legislation after it reaches the US president.
