All Measures To Protect Trade And Economic Interests Under Consideration: India On US’ Russia Sanctions Bill
New Delhi: India on Thursday reaffirmed its commitment to ensuring energy security for its 1.4 million people after the US Congress cleared a legislation, providing for tariffs of up to 100 per cent on goods from major buyers of Russian energy.
In a statement, the Ministry of External Affairs (MEA) said that the Indian Government has noted the passage of the Sanctioning Russia and Iran Act in the US Congress and is monitoring further developments on this matter.
“As stated on several earlier occasions, India remains firmly committed to ensuring energy security for its 1.4 billion people. It will continue to do so through diversified sourcing and on the basis of evolving market dynamics,” the MEA mentioned in a statement.
“This issue has been discussed at high levels in recent months with various US interlocutors. Its potential implications for not just the bilateral relationship but also the international energy market have been very clearly articulated by the Indian side,” it added.
The MEA said that the Indian side has made clear its determination to take all necessary measures to protect its trade and economic interests. The MEA stated that the Indian Government will work closely with Indian trade and industry bodies to deal with the implications of these developments.
The MEA’s statement comes after the US Congress passed legislation providing for tariffs of up to 100 per cent on goods from major buyers of Russian energy, sending President Donald Trump a sanctions package that divided Democrats over the scope of his trade powers.
The House passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 by 262-159 on Wednesday (local time). The Senate approved it 86-11 on August 7. Trump is expected to sign the measure, with his advisers having recommended approval.
The package seeks to reduce the financial resources sustaining Russia’s war against Ukraine. It targets Russian officials, banks, energy interests and foreign entities supporting Moscow’s military operations.
According to the House Ways and Means Committee, the bill directs tariffs of up to 500 per cent on Russian goods. It also provides for duties of up to 100 per cent on goods from countries covered by its Russian oil and gas purchase provisions.
Those provisions cover major Russian energy importers and leading facilitators of oil sanctions evasion. The committee said additional countries could be added following reviews by the US Trade Representative every 180 days.
Senator Katie Britt’s office said the bill includes an exemption for countries whose Russian natural gas imports represent less than 15 per cent of Russia’s total gas exports and that are taking significant steps to reduce those purchases.
The supplied statements do not identify India as a designated target or establish an India-specific tariff rate.
(IANS)
