India reacts to US sanctions bill, says will safeguard trade and economic interests
India responds to the US Congress passing the Lindsey O. Graham Sanctioning Russia and Iran Act, telling Washington on Thursday, September 17, that it will do whatever is necessary to protect its trade and economic interests. The legislation hands President Donald Trump the power to impose tariffs of up to 100 per cent on the world's biggest buyers of Russian oil and gas, a list that puts both India and China squarely in the crosshairs.
In a statement, the Ministry of External Affairs (MEA) said the government had "noted the passage" of the Act and was "monitoring further developments on this matter." Reiterating New Delhi's long-standing position, the MEA said India "remains firmly committed to ensuring energy security for its 1.4 billion people," and would continue to do so "through diversified sourcing and on the basis of evolving market dynamics."
The ministry said the issue had been "discussed at high levels in recent months with various US interlocutors," and that India had "very clearly articulated" the potential implications of the legislation, "not just for the bilateral relationship but also the international energy market." It added that the Indian side had "made clear its determination to take all necessary measures to protect its trade and economic interests," and said the government would work closely with Indian trade and industry bodies to manage the implications of the developments.
The legislation, named after the late Republican senator and Trump ally Lindsey Graham, was passed by the US House of Representatives on Wednesday by a vote of 262-159, after having cleared the Senate 86-11 in August. It now goes to Trump for enactment. Beyond the tariff provisions targeting major Russian energy importers, the bill expands sanctions on Russian officials, financial institutions and vessels linked to Russia's "shadow fleet," used to circumvent existing Western restrictions on energy exports, and extends sanctions on Iran's energy sector.