The US House of Representatives passed a bipartisan sanctions bill on Wednesday that authorizes President Donald Trump to impose tariffs of up to 100% on countries importing Russian energy, including India and China, according to livemint.com. India imports about 90% of its crude oil, with over a third sourced from Russia, raising concerns about potential impacts on its energy security.
The bill aims to penalize countries continuing to buy Russian oil amid the Ukraine conflict. It passed with bipartisan support and grants the US president broad authority to levy tariffs on energy imports from Russia. India’s Ministry of External Affairs responded by vowing to protect the country’s interests in light of the new US legislation, emphasizing the importance of maintaining stable bilateral ties and energy supplies.
India’s reliance on Russian crude oil is significant given its large import dependency. The sanctions bill could disrupt India’s energy procurement strategies and increase costs. The move follows ongoing geopolitical tensions related to the Ukraine war and reflects US efforts to isolate Russia economically. India’s position highlights the challenges faced by major energy importers balancing geopolitical pressures and energy needs.
India’s Ministry of External Affairs has stated it will safeguard national interests amid the US bill’s passage, underscoring the government’s commitment to securing energy supplies. The legislation’s implementation timeline and specific tariff decisions remain to be seen, but the development marks a critical moment in US-India relations and global energy markets, according to livemint.com.