India gets breather from Trump’s tariff weapon
A Russia sanctions bill introduced by Senator Lindsey Graham may remain stalled in the US House until at least the November Midterm elections, amid fears that it could expand President Trump's tariff powers and raise oil prices. India, the top purchaser of Russian crude, is among those opposed to the bill. External Affairs Minister S Jaishankar emphasized that the Russia-Ukraine conflict cannot be resolved through oil purchases or sanctions, and called for dialogue, diplomacy, and negotiations to resolve the issue.
India's exposure to Russian oil accounts for 30.3% of its crude imports, with $40.8 billion worth of purchases in the fiscal year 2026. The bill, which received an 86-11 Senate vote, is facing opposition from House Democrats and some Republicans due to concerns about its potential impact on gas prices and India's energy security.
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