New Delhi: Days after the US Senate cleared a new Bill that would authorise President Donald Trump to impose tariffs of up to 100 per cent on India, China and other major buyers of Russian oil and gas, New Delhi Friday said it was closely monitoring the situation.
The Bill will now be taken up by the House of Representatives for deliberation.
“On energy security, our position has been clarified and very well articulated on several occasions. It is something which is predicated on our national priorities and on securing the energy needs of our 1.4 billion people through diversified sources, which includes the US,” External Affairs Ministry spokesperson Randhir Jaiswal said.
He was responding to a question on the US Senate clearing the Bill by 86-12 vote.
“We remain engaged with relevant stakeholders in the US at various levels on this particular matter,” Jaiswal said.
The Lindsey O Graham Sanctioning Russia and Iran Act of 2026 would impose primary and secondary sanctions against Russia and actors supporting its war in Ukraine.
The sanctions target Russian officials, oligarchs, their family members, foreign persons and Russian banks and financial institutions, as well as the Russian Shadow Fleet.
The legislation allows the president to impose targeted tariffs on imported goods from countries that buy the vast majority of Russian oil or gas and enable Russian sanctions evasion.
Section 113 of the Bill specifically targets the five countries that purchase the largest volumes of Russian fuel or facilitate sanctions evasion through shadow fleets, threatening them with additional 100 per cent tariffs.
Apart from China and India, the other top purchasers of Russian oil are Slovakia, Hungary and Azerbaijan.
The Bill calls for the US Trade Representative to reassess the top five purchasers every 180 days, to adjust tariff rates based on changes in purchasing behaviour.
PTI
