India Warns the US About Consequences of Tariffs on Russian Oil

The Indian Ministry of External Affairs has warned the United States about the negative consequences of imposing punitive tariffs on countries purchasing Russian oil. This could harm bilateral relations and the stability of the global energy market. New Delhi's reaction followed the U.S. House of Representatives' passage of a sanctions bill against Russia, which grants the president the authority to impose tariffs of up to 100% on goods from countries that maintain energy dependence on Moscow, including India. As the third-largest oil importer in the world, India has already contracted shipments of Russian oil for September and October. Industry representatives express concern over rising costs and potential revenue declines, and they urge negotiations with Washington for a transition period to conclude existing agreements. Indian Commerce Minister Piyush Goyal is expected to discuss the situation with the U.S. Trade Representative at the G20 summit at the end of September. The sanctions bill against Russia was supported by the House of Representatives on September 16 and sent to Trump for signature.

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