India warns new US tariffs over Russian oil could hit ties, vows to protect energy security
Summary
India has warned that new US tariffs tied to Russian oil purchases could hurt bilateral ties, while New Delhi says it will protect its energy security and trade interests. The move comes as India and the US struggle to finalize a trade agreement and refiners worry higher tariffs could raise oil prices.
Key Points
- India said the proposed US tariffs over Russian oil purchases could affect bilateral ties and the broader energy market.
- New Delhi said it remains committed to energy security and will keep sourcing oil from diverse suppliers based on market conditions.
- The US House passed a sanctions and tariff bill that could authorize tariffs of up to 100% on India, China and other buyers of Russian energy.
- Trade tensions could complicate India-US negotiations, with Piyush Goyal expected to discuss the issue with Jamieson Greer at the G20 trade ministers’ meeting.
