AI Generated Image
India says new US tariffs over Russian oil could hit ties, vows to protect energy security
Reuters • • nation
Key Points:
- India has warned the U.S. that new tariffs targeting buyers of Russian oil could harm bilateral relations, emphasizing its commitment to energy security and diverse sourcing amid ongoing tensions over Russian oil purchases.
- The U.S. House of Representatives passed a sanctions and tariff bill authorizing up to 100% tariffs on countries like India to pressure them to reduce dependence on Russian energy, now awaiting President Trump's signature.
- India, the world's third-largest oil importer and a major buyer of Russian oil, has resisted cutting Russian imports, citing its need for affordable and reliable energy amid global supply disruptions.
- Indian refiners have urged the government to negotiate with the U.S. for tariff relief or phased measures to avoid sharp oil price increases and protect refinery profits already strained by below-market fuel sales.
- The tariff threat complicates ongoing India-U.S. trade talks, potentially delaying agreements as India seeks better terms, with upcoming discussions planned between Indian Trade Minister Piyush Goyal and U.S. Trade Representative Jamieson Greer.
