India warns new US tariffs over Russian oil could impact ties
Al Jazeera
Al Jazeera
Original Source
India has warned that new US tariffs on Russian oil purchases could damage bilateral relations, following congressional approval of legislation granting President Trump authority to penalize countries importing Russian energy. As the world's third-largest oil importer, India relies heavily on Russian crude to meet the energy security needs of its 1.4 billion population.
India has warned the United States that new measures to levy tariffs over the purchase of Russian oil could impact bilateral ties, hours after the US Congress approved a bill that would give President Donald Trump new abilities to punish buyers of Russian oil.
The US House of Representatives on Wednesday passed a sweeping sanctions and tariff bill intended to increase economic pressure on Russia over its invasion of Ukraine.
Recommended Stories
list of 3 items
list 1 of 3BRICS summit: What are the key takeaways?
list 2 of 3BRICS meets in India: What’s on the agenda, why it matters
list 3 of 3How US Senate Russia sanctions could spell 100% tariffs for India, China
end of list
The bill 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 authorises President Donald Trump to impose stiff tariffs of up to 100 percent on countries, including India, to reduce their dependence on Russian oil and gas, and extend sanctions on Iran.
The bill has been sent to Trump to sign into law.
India’s foreign ministry said on Thursday that it “remains firmly committed to ensuring energy security for its 1.4 billion people”.
The Indian foreign ministry said that it had noted the bill’s passage, adding that New Delhi had raised the issue with various US interlocutors in recent months, and had “very clearly articulated” the potential implications for the bilateral relationship and the international energy market.
“The Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests,” it said in a statement.
The government would work closely with trade and industry bodies to deal with the legislation’s implications, it added.
India, the world’s third-biggest oil importer, is among the biggest buyers of Russian oil, which is seen as helping Moscow replenish its budget since it launched its full-scale invasion of Ukraine in February 2022 and was hit with sweeping Western sanctions.
New Delhi has repeatedly sought to resist pressure to reduce its oil trade with Russia, saying its large population and economy need secure, affordable and reliable energy supplies.
The US House of Representatives on Wednesday passed a sweeping sanctions and tariff bill intended to increase economic pressure on Russia over its invasion of Ukraine.
Recommended Stories
list of 3 items
list 1 of 3BRICS summit: What are the key takeaways?
list 2 of 3BRICS meets in India: What’s on the agenda, why it matters
list 3 of 3How US Senate Russia sanctions could spell 100% tariffs for India, China
end of list
The bill 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 authorises President Donald Trump to impose stiff tariffs of up to 100 percent on countries, including India, to reduce their dependence on Russian oil and gas, and extend sanctions on Iran.
The bill has been sent to Trump to sign into law.
India’s foreign ministry said on Thursday that it “remains firmly committed to ensuring energy security for its 1.4 billion people”.
The Indian foreign ministry said that it had noted the bill’s passage, adding that New Delhi had raised the issue with various US interlocutors in recent months, and had “very clearly articulated” the potential implications for the bilateral relationship and the international energy market.
“The Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests,” it said in a statement.
The government would work closely with trade and industry bodies to deal with the legislation’s implications, it added.
India, the world’s third-biggest oil importer, is among the biggest buyers of Russian oil, which is seen as helping Moscow replenish its budget since it launched its full-scale invasion of Ukraine in February 2022 and was hit with sweeping Western sanctions.
New Delhi has repeatedly sought to resist pressure to reduce its oil trade with Russia, saying its large population and economy need secure, affordable and reliable energy supplies.
🔗 Share Article
Tags:#الهند#العقوبات الأمريكية#النفط الروسي#العلاقات الثنائية#أوكرانيا#الرسوم الجمركية
Source: Al Jazeera
For Context
Related reads from the same topic or latest developments
