India discusses concerns with US over Russia energy sanctions
(MENAFN) India has voiced its concerns to the United States regarding a bill that proposes imposing 500% tariffs on countries conducting business with Russia, Indian Foreign Minister S. Jaishankar said on Wednesday. Speaking during a Quad foreign ministers’ meeting in Washington, Jaishankar acknowledged India’s significant role as a major importer of Russian oil and its awareness of the bill’s potential impact.
“Any developments in the US Congress that affect our interests, especially energy security, are of concern to us,” Jaishankar said during a press briefing. He added that India has communicated its energy security concerns to Senator Lindsey Graham, who sponsored the bill. “We will address the issue if and when it becomes necessary.”
The legislation is part of a wider US strategy to increase pressure on Russia amid the ongoing Ukraine conflict. Senator Graham described the bill as a key tool for US President Donald Trump to compel Russian President Vladimir Putin to negotiate.
Indian officials remain in contact with the senator and are closely monitoring the bill, which has Trump’s support. Since 2022, both India and China have sharply increased their Russian oil imports. In May, India became the second-largest buyer of Russian fossil fuels, with purchases valued at approximately $4.9 billion, about 72% of which were crude oil, according to the Centre for Research on Energy and Clean Air.
India has bought 80% of Russia’s seaborne Urals crude exports this year, with private refineries increasing their intake. Meanwhile, the US and India continue trade talks, aiming to meet a July 9 deadline set by Trump to avoid reciprocal tariffs.
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