‘Committed to ensuring energy security’: India reacts as 100% Trump tariff looms


'Committed to ensuring energy security': India reacts as 100% Trump tariff looms

NEW DELHI: India on Thursday reacted to the passage of a new bill in United States that allows the Trump administration to impose tariffs of up to 100 per cent on countries buying crude oil from Russia and Iran. The ministry of external affairs, in a statement, said that New Delhi remains committed to ensuring energy security for its 1.4 billion people.“The government of India has noted the passage of the Sanctioning Russia and Iran Act in the US Congress. We are 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,” it said.“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 ministry further said that New Delhi will take “all necessary measures” to protect its trade and economic interests.“Government will work closely with Indian trade and industry bodies to deal with the implications of these developments,” it said.This comes after the ‘Lindsey O Graham Sanctioning Russia and Iran Act of 2026’ was passed in the US House of Representatives. The legislation gives President Donald Trump the power to impose tariffs of up to 100 per cent on major buyers of Russian oil and gas, including India.The new Act allows the creation of a new legal route for Washington to impose tariffs of up to 100 per cent on Indian imports over New Delhi’s continued purchases of Russian energy.India and China are among the biggest buyers of Russian crude, and the tariff provision is intended in part to put pressure on countries that continue to support Russia’s energy revenues.The measure directs the president to impose tariffs of up to 100 per cent on the five largest importers of Russian oil or natural gas. It includes an exception for countries that import less than 15 per cent of Russia’s natural gas exports and have taken significant steps to reduce those purchases.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *