MEA ‘monitoring developments’ of Russia sanctions bill in U.S. Congress
The Bill passed by the U.S. House of Representatives authorises the U.S. President to impose tariffs of up to 100% on India and other countries for buying oil and gas from Russia
The US House of Representatives has passed legislation authorising President Donald Trump to impose tariffs of up to 100% on countries, including India and China, that buy Russian oil and gas. This bill, which now awaits Trump's signature, has raised concerns in India, which has become increasingly dependent on Russian crude since 2022.
India bought $40.8 billion worth of Russian crude in FY2026, accounting for 30.3% of its total crude imports. The legislation has been closely watched in New Delhi due to its potential impact on India's exports to the US and on the cost and availability of crude. Despite this, India has reaffirmed its commitment to ensuring energy security for its 1.4 billion people through diversified sourcing and on the basis of evolving market dynamics.
Brief written by urgent.news from The Economic Times - Economy's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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- India vows to protect energy security as US Russia bill opens door to 100% tariffs economictimes.indiatimes.com
