India says it will ensure energy security amid possible US tariffs — Deutsche Welle
India stated that it will ensure energy security for its 1.4 billion residents and will continue purchasing oil from various suppliers. The statement came after the US House of Representatives approved a bill that allows for the imposition of tariffs of up to 100% on countries that buy Russian oil and gas, including India.
New Delhi’s position
India’s Ministry of External Affairs said that the country will diversify its energy supply sources in light of market conditions. The ministry noted that it had raised this issue with US officials in recent months and explained the possible consequences not only for bilateral relations but also for the international energy market.
The Indian side also stated that it is ready to take all necessary measures to protect its trade and economic interests and to cooperate with trade and industry associations regarding the consequences of the legislative initiative. As Deutsche Welle reports, India is the world’s third-largest oil importer, and Russia has become one of its largest suppliers.
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Sanctions bill
The document, which still has to be signed by US President Donald Trump, provides for sanctions against the energy and defense sectors of Russia, the aggressor state, President Vladimir Putin, and other senior officials. It is also directed against the so-called shadow fleet — old tankers that Moscow uses to circumvent sanctions.
The bill gives Trump the authority to impose secondary sanctions in the form of tariffs against states that rely on Russian oil and gas. India and China are expected to become the main targets of such measures. The document also provides for an expansion of sanctions against Iran.
