India threatens US over bill imposing sweeping sanctions on Russia
Photo: India warns US over bill imposing "hellish sanctions" on Russia (Getty Images)
India has warned that potential US tariffs of up to 100% on purchases of Russian oil could harm relations with the United States. The country pledged to protect its own trade and energy interests, according to Reuters.
The statement came after the US House of Representatives passed a bill to increase economic pressure on Russia. The legislation allows US President Donald Trump to impose tariffs of up to 100% on India, China and other buyers of Russian energy.
India's Ministry of External Affairs said it had taken note of the passage of the bill, adding that New Delhi had raised the issue with various US counterparts over the past several months and had "very clearly outlined" the potential implications for bilateral relations and the international energy market.
The statement said that India plans to continue purchasing energy from various suppliers depending on market conditions. The country is the world's third-largest oil importer and one of the biggest buyers of Russian crude.
Indian refiners have already contracted Russian oil for September and October.
According to Reuters, they are asking the government to seek a relaxation of the restrictions from the US or permission to purchase certain volumes instead of imposing 100% tariffs.
'Hellish sanctions' against Russia
As a reminder, today, September 17, the US House of Representatives gave final approval to a bill imposing "hellish sanctions" on Russia and Iran. The legislation, authored by the late Senator Lindsey Graham, is now headed to President Donald Trump for his signature.
The legislation gives Trump the authority to impose tariffs of up to 100% on countries that purchase Russian energy or help Russia circumvent sanctions.
In addition, the bill provides for sanctions against Russian officials, banks and the shadow fleet, while extending existing sanctions against Iran.
For more details on who could be affected by the new restrictions and what consequences they could have, read RBC-Ukraine's article, "Sweeping blow to Russia and its allies: What the Graham-Blumenthal bill includes."
