Govt says ‘closely following’ developments on US bill seeking 100% tariff over Russian oil purchase
The Ministry of External Affairs (MEA) said on Friday that the government is "closely following" developments related to a US legislation that proposed imposing 100
The Ministry of External Affairs (MEA) said on Friday that the government is "closely following" developments related to a US legislation that proposed imposing 100 per cent tariffs on five countries, including India, for buying Russian oil. MEA spokesperson Randhir Jaiswal said during the bi-weekly media briefing on July 17 that the government is aware of the proposed legislation and is monitoring the situation. "We are closely following these developments, and we are aware of the proposed legislation. That is what I have to say," Jaiswal said. He reiterated that India's crude oil imports are guided by its energy security requirements and broader sourcing strategy, noting that New Delhi has multiple suppliers across the world.
"As far as buying oil, we buy oil from various countries in the world. It is based on our approach towards energy sourcing," Jaiswal said. Referring to maritime traffic in the region, he said there is regular movement of Indian vessels between India and the Persian Gulf. "On the number of Indian vessels which are there in the Persian Gulf, as of today, we have, there is regular traffic between India and the Persian Gulf region; we have seven Indian ships which are there in the Persian Gulf, Indian flagships which are there in the Persian Gulf," the MEA spokesperson added. US bill seeks to impose 100% tariff The Ministry of External Affairs' response came after a bipartisan group of more than 60 US Senators introduced revised legislation to impose sweeping sanctions on Russia, replacing the earlier proposal for blanket tariffs with targeted measures aimed at the world's largest buyers of Russian energy.
The revised bill, "Senator Lindsey O. Graham Sanctioning Russia Act of 2026", introduced after the death of Senator Lindsey Graham, holds major purchasers of Russian oil and gas accountable for supporting Russia's war in Ukraine. The legislation, titled the Lindsey O Graham Sanctioning Russia Act of 2026, was introduced on Thursday by Democratic Senator Richard Blumenthal and the late Republican Senator Lindsey Graham. According to an official release, the revised bill "refines tariff authority from a blanket 500 per cent tariff to tariffs on the top five purchasers of Russian crude oil and natural gas of upto 100 per cent," while creating an exception for countries importing less than 15 per cent of Russia's natural gas exports that are taking significant steps to reduce those imports.
The BriefWire