India warns new US tariffs over Russian oil could impact ties
Summary
India has warned that new U.S. tariffs on Russian oil could harm relations between the two countries. The U.S. Congress passed a bill allowing President Donald Trump to impose tariffs on countries buying Russian oil, aiming to press Russia over its invasion of Ukraine.Key Facts
- The U.S. House of Representatives passed a bill with sanctions and tariffs targeting Russia’s energy and defense sectors.
- The bill allows President Trump to impose tariffs up to 100% on countries, including India, that buy Russian oil and gas.
- The bill also extends sanctions on Iran and targets Russian officials and a fleet of tankers that bypass sanctions.
- India is the third-largest oil importer in the world and buys a significant amount of Russian oil.
- India’s government said it is committed to energy security for its 1.4 billion people.
- India warned the U.S. that tariffs on Russian oil imports could affect India-U.S. ties and global energy markets.
- India plans to protect its trade and economic interests and work with trade groups on the bill’s impact.
- The bill has been sent to President Trump to sign into law.
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