India 'Closely Following' US Bill on 500% Tariffs Over Russian Oil
India
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News18•09-01-2026, 16:29
India 'Closely Following' US Bill on 500% Tariffs Over Russian Oil
- •India's MEA is tracking a proposed US bill that could impose 500% tariffs on countries buying Russian oil.
- •The bill, supported by Donald Trump and Senator Lindsey Graham, aims to pressure Moscow over the Ukraine war.
- •India asserts its energy sourcing is driven by global market conditions and the need for affordable supplies.
- •The legislation could penalize trading partners like India, China, and Brazil for purchasing Russian oil or uranium.
- •A vote on the bipartisan sanctions bill in the US Senate could happen as early as next week.
Why It Matters: India monitors US bill proposing massive tariffs on Russian oil buyers, prioritizing affordable energy for its population.
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