India said on Sept. 17 it would protect its trade interests and continue buying oil from diverse suppliers after U.S. lawmakers approved a Russia sanctions bill.
The legislation, awaiting President Donald Trump’s signature, would authorize tariffs of up to 100 percent on major buyers of Russian oil and gas, potentially including India and China.
It also targets Russia’s energy and defense sectors, senior officials and the “shadow fleet” of tankers used to circumvent Western sanctions, seeking to restrict revenue financing Moscow’s war in Ukraine.
India’s Foreign Ministry said the country remained “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,” it said.
“The Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests.”
The ministry said India had discussed the issue with senior U.S. officials in recent months, outlining the potential consequences for bilateral relations and international energy markets.
India has turned to Russian oil to help manage the energy crisis caused by the U.S.-Iran conflict, despite pressure from Washington and other Western capitals.
Moscow remains an important strategic partner and military supplier.
Indian imports of Russian crude fell to about 2.1 million barrels a day in August from a record 2.8 million in July, according to trade intelligence firm Kpler.
