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India Vows to 'Protect' Trade Interests After US Russia Sanctions Bill
(MENAFN) India said Thursday it would take "all necessary measures to protect its trade and economic interests" after the U.S. Congress passed a sweeping Russia sanctions bill with direct implications for Indian trade.
India's Ministry of External Affairs confirmed it was tracking the legislation's progress, saying it was "monitoring further developments on this matter" following passage of the Sanctioning Russia and Iran Act.
The House approved the bill Wednesday in a 262-159 vote, with dozens of Democrats crossing party lines to join Republicans. The measure now heads to President Donald Trump for his signature. If enacted, it would empower the Trump administration to impose tariffs of up to 100% on countries buying Russian oil and gas — a list that includes both China and India.
New Delhi reiterated Thursday that India remains "firmly committed to ensuring energy security for its 1.4 billion people" and "will continue to do so through diversified sourcing and on the basis of evolving market dynamics."
"This issue has been discussed at high levels in recent months with various US interlocutors. Its potential implications for not just the bilateral relationship but also the international energy market have been very clearly articulated by the Indian side," the ministry said.
The ministry added that India "has also made clear its determination to take all necessary measures to protect its trade and economic interests."
"Government will work closely with Indian trade and industry bodies to deal with the implications of these developments," it said.
The sanctions bill lands months after the U.S. and India announced in February that they had struck an interim framework deal aimed at resolving a bilateral trade dispute.
Tensions between the two nations flared last year after the Trump administration imposed 50% tariffs on Indian goods, a move driven in part by India's continued purchases of Russian oil amid the ongoing war between Moscow and Kyiv.
Trade between India and Russia hit a record $68.7 billion last year.
India's Ministry of External Affairs confirmed it was tracking the legislation's progress, saying it was "monitoring further developments on this matter" following passage of the Sanctioning Russia and Iran Act.
The House approved the bill Wednesday in a 262-159 vote, with dozens of Democrats crossing party lines to join Republicans. The measure now heads to President Donald Trump for his signature. If enacted, it would empower the Trump administration to impose tariffs of up to 100% on countries buying Russian oil and gas — a list that includes both China and India.
New Delhi reiterated Thursday that India remains "firmly committed to ensuring energy security for its 1.4 billion people" and "will continue to do so through diversified sourcing and on the basis of evolving market dynamics."
"This issue has been discussed at high levels in recent months with various US interlocutors. Its potential implications for not just the bilateral relationship but also the international energy market have been very clearly articulated by the Indian side," the ministry said.
The ministry added that India "has also made clear its determination to take all necessary measures to protect its trade and economic interests."
"Government will work closely with Indian trade and industry bodies to deal with the implications of these developments," it said.
The sanctions bill lands months after the U.S. and India announced in February that they had struck an interim framework deal aimed at resolving a bilateral trade dispute.
Tensions between the two nations flared last year after the Trump administration imposed 50% tariffs on Indian goods, a move driven in part by India's continued purchases of Russian oil amid the ongoing war between Moscow and Kyiv.
Trade between India and Russia hit a record $68.7 billion last year.
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