MEA monitoring US Russia-sanctions bill threatening 100% tariffs
The Ministry of External Affairs said it is monitoring developments around a Russia sanctions bill in the U.S. Congress. The bill, passed by the U.S. House of Representatives, authorises the U.S. President to impose tariffs of up to 100% on India and other countries for buying oil and gas from Russia. India has consistently defended its energy purchases as driven by national interest.
Nabka Insight
US secondary-sanctions threats on Russian oil directly affect India.
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- The US House passed a bill targeting buyers of Russian oil and gas.
- It empowers the US President to levy tariffs of up to 100%.
- India's MEA said it is monitoring the developments.
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