India Stands Firm on Trade with US Sanctions Bill in Limbo
India has vowed to protect its trade interests after US lawmakers approved a Russia sanctions bill. The legislation, which is awaiting President Donald Trump's signature, targets major buyers of Russian oil and gas with tariffs of up to 100 percent.
The bill also restricts revenue financing Moscow's war in Ukraine by targeting Russia's energy and defense sectors. India has been buying oil from diverse suppliers, including Russia, to manage the energy crisis caused by the US-Iran conflict.
According to trade intelligence firm Kpler, Indian imports of Russian crude fell to 2.1 million barrels a day in August from a record 2.8 million in July. India's Foreign Ministry said it remains committed to ensuring energy security for its 1.4 billion people through diversified sourcing and evolving market dynamics.
India has discussed the issue with senior US officials, outlining potential consequences for bilateral relations and international energy markets. The country is determined to take all necessary measures to protect its trade and economic interests.