India has warned Washington that a new US sanctions bill targeting buyers of Russian oil could damage bilateral ties and disrupt global energy markets. The US Congress gave final approval to the measure Wednesday, and it now awaits President Donald Trump's signature.
New Delhi pushed back hard Thursday after the US Congress gave final approval to a sweeping sanctions bill that would let Trump impose tariffs of up to 100% on the top buyers of Russian oil. A White House official said the president plans to sign the bill in the coming days.
India's Ministry of External Affairs said it had already raised the issue with US officials in recent months. According to Rigzone: "India remains firmly committed to ensuring energy security for its 1.4 billion people."
Sanctions bill targets India, China and Turkey
The measure targets the five biggest buyers of Russian oil or natural gas, a group that could expose India, China and US ally Turkey to new levies. India is currently Russia's top buyer of seaborne crude, though its refiners have already been leaning on the US, Brazil, Canada, Venezuela and Africa for additional and more varied supplies.
New Delhi said the potential implications for the bilateral relationship and the international energy market have been very clearly articulated by the Indian side. The ministry added that India has made clear its determination to take all necessary measures to protect its trade and economic interests.
Strained ties complicate the standoff
US-India relations have been under strain over the past year amid tariff tensions and Trump's claims that he helped mediate an end to fighting between India and Pakistan. The two sides have since sought to repair ties, including by easing tariffs on Indian goods, but they have yet to finalize a trade agreement.
Meanwhile, Indian state-owned refiners face their most significant supply uncertainty in months. A drawn-out conflict in the Middle East is compounding the prospect of tighter US restrictions on Russian purchases, according to a Bloomberg News report cited by Rigzone.
Source: Rigzone
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