India reacts to US threat of 100% tariffs on Russian oil, says ‘committed to protecting trade and economic interests’ | Today’s news
India has reacted strongly to the passage of the Russia Sanctions Act of 2026 in the US Congress, saying that the Indian side has “clearly expressed its determination to take all necessary measures to protect its trade and economic interests”.
The center said it took note of the passage of the Russia-Iran Sanctions Bill, which puts India at risk of imposing tariffs of up to 100 percent. “We are monitoring further developments in this matter,” the Ministry of Foreign Affairs said in a statement on Thursday.
India’s full notes on the Russia Sanctions Bill
In a statement on Thursday, the Ministry of External Affairs said: “The Government of India has noted the passage of the Russia-Iran Sanctions Bill in the US Congress. We are monitoring further developments on this matter.”
She added: “As stated on several previous occasions, 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 MEA said: “This issue has been discussed at a high level with various US partners in recent months. Its potential implications not only for bilateral relations but also for the international energy market have been very clearly articulated by the Indian side.”
“The Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests. The government will work closely with Indian trade and industry authorities to deal with the implications of these developments,” the ministry said in a statement.
What is the Russia Sanctions Act of 2026?
Lindsey O. Graham Russia Sanctions Act of 2026 was introduced in the US Senate on September 16. It proposed to “increase the tariff rate up to 100% ad valorem on all goods imported into the US from a country that was among the top five importers of oil or natural gas of Russian origin, if such country knowingly makes new purchases of such products after the enactment of the Act”.
A bill to impose sanctions on Russia and stiff tariffs on countries buying Russian oil and gas, including India, could expose New Delhi to tariffs of up to 100 percent, think tank GTRI said on Thursday, as quoted by PTI.
However, the true impact of the new tariffs on Indian exports can only be assessed after the US announces the tariff rates, product coverage and implementation schedule.
The bill is now on President Trump’s desk and is expected to be signed in the coming days.
According to THINGbilateral trade between India and Russia reached a record high of USD 68.7 billion in FY 2024-25 and 59.863 billion in FY 2025-26.
India was the second largest buyer of Russian fossil fuels in June 2026, importing a total of €5.5 billion of Russian hydrocarbons, according to the Center for Energy and Clean Air Research’s June 2026 analysis of Russian fossil fuel exports and sanctions (CREA).
Russian oil imports to India hit record high, up 34 per centebt month-on-month, buying €4.5bn worth of Russian oil in June
Who buys Russian fossil fuels?(CREA)
