India has reaffirmed its commitment to securing energy supplies for its 1.4 billion people and will continue sourcing oil from diverse suppliers, hours after the US House of Representatives passed a bill authorizing tariffs of up to 100% on countries that continue buying Russian oil and gas, including India, along with new sanctions tied to Russia's war in Ukraine.
The bill now goes to President Donald Trump for signature. India's Ministry of External Affairs issued a statement responding directly to the legislation: "India remains firmly committed to ensuring energy security for its 1.4 billion people. It will continue to do so through diversified sourcing and on the basis of evolving market dynamics."
The ministry said it had raised the issue with US officials in recent months, adding, "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 statement also made clear India's determination to take all necessary measures to protect its trade and economic interests, and said it would work with trade and industry bodies on the legislation's implications.
India is the world's third-largest oil importer, and Russia has become one of its largest suppliers as well as a longstanding strategic and military partner. New Delhi has consistently defended the relationship as necessary for its energy needs, resisting outside pressure to scale it back.
The package targets Russia's energy and defense sectors, President Vladimir Putin and other senior officials. It also targets Moscow's so-called shadow fleet, old tankers it uses to circumvent sanctions. More controversially, the legislation allows Trump to impose secondary sanctions on countries that rely on Russian oil and gas, in the form of tariffs. Beijing and New Delhi are expected to be the main targets of such measures. The bill would also extend sanctions on Iran.
Source: www.dw.com