Uncategorized

India Warns US Tariffs Could Strain Ties Over Russian Oil

India warns proposed US tariffs could affect bilateral ties while defending its right to secure affordable and reliable energy supplies.

India has warned that new US tariffs targeting countries that buy Russian oil could affect its relationship with Washington, while reaffirming its commitment to securing energy supplies for its population.

The warning came after the US House of Representatives passed a sweeping sanctions and tariff bill that could allow President Donald Trump to impose tariffs of up to 100% on countries including India.

The legislation is aimed at increasing economic pressure on Russia over its war in Ukraine. It also extends sanctions on Iran and targets countries that continue to depend on Russian oil and gas.

The bill will now go to Trump, who must sign it before it becomes law.

India’s foreign ministry said New Delhi had closely followed the House vote and had repeatedly raised concerns with US officials over the possible impact of such measures.

“The Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests,” the ministry said in a statement.

New Delhi said it had also warned Washington that further measures could affect bilateral relations and have wider consequences for international energy markets.

India said it would continue sourcing energy from different suppliers based on market conditions as it seeks to protect its energy security.

The government also said it would work with trade and industry groups to assess and respond to the potential impact of the US legislation.

India is the world’s third-largest oil importer and has become one of the biggest buyers of Russian crude since Russia’s full-scale invasion of Ukraine in 2022.

Western sanctions on Moscow have pushed Russian oil towards alternative markets, with India becoming a major destination.

New Delhi has repeatedly defended its purchases of Russian crude, saying its large population and economy require reliable and affordable energy supplies.

The latest US legislation could put further pressure on India’s energy trade with Russia and add strain to relations between New Delhi and Washington.

ALSO SEE

SGF Akume Calls For Stronger Collaboration Among Fiscal Oversight Institutions

NewsDeskNg

Awujale Suit: Vacation Judge Returns Case File For Reassignment Ahead Of Annual Vacation

NewsDeskNg

Trevor Nelson Takes Break From BBC Radio 2 Over Health Concerns

NewsDeskNg

This website uses cookies to improve User experience. Accept Learn More

Our Policies