India to take 'all necessary measures' to protect economic interests after US passes Russia sanctions bill
India said on Thursday it would continue buying oil from “diversified” suppliers, after US lawmakers approved sanctions designed to squeeze Russia over its war in Ukraine. The US legislation targets Russia’s energy and defence sectors, President Vladimir Putin and other senior officials, as well as Moscow’s so-called shadow fleet of tankers used to circumvent Western sanctions. It also gives US…
India's foreign ministry announced on Thursday that it will take all necessary measures to safeguard the country's economic interests following the US approval of sanctions targeting Russia over its involvement in the Ukraine conflict. The sanctions, which aim to weaken Russia's energy and defense sectors, as well as senior officials, have prompted concerns about potential repercussions on major buyers, including China and India.
Despite these challenges, India's foreign ministry emphasized its commitment to ensuring energy security for its 1.4 billion citizens through diversified sourcing and market adjustments. Tensions between India and Russia persist, given Moscow's status as a strategic ally and major arms supplier to Delhi. However, the Indian government has been proactive in addressing the energy crisis, with crude oil imports from Russia nearly doubling to 2.25 million barrels per day in March, thanks to temporary waivers from the US.
India's crude imports from the country peaked at 2.81 million barrels in July, but have since decreased to 2.07 million barrels last month.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- US House Passes Sanctions Bill To Impose 100% Tariffs On Russian Energy Buyers Including India freepressjournal.in
- India to take 'all necessary measures' to protect economic interests after US passes Russia sanctions bill dawn.com
- 100% tariffs loom: Will US sanctions bill make India stop buying crude from Russia? timesofindia.indiatimes.com
- India to take ‘all measures’ after US passes Russia sanctions bill freemalaysiatoday.com
- 'What kind of language': Congress slams US senator's warning to India over Russian oil hindustantimes.com
- Centre stands firm on India’s energy security needs after US passes Russia Sanctions Bill indianexpress.com
