India Vows to Protect Economic Interests After US Russia Sanctions Bill
India’s Ministry of External Affairs confirms that lawmakers in Washington have passed the Sanctioning Russia and Iran Act and says New Delhi is closely following the next developments surrounding the measure.
The legislation is approved by the US House on Wednesday in a 262-159 vote, with support from dozens of Democrats alongside Republicans. It now moves to US President Donald Trump, who would need to sign it into law.
If enacted, the measure would give the Trump administration authority to impose tariffs of as much as 100% on countries buying Russian oil and gas, potentially affecting major importers such as India and China.
New Delhi reiterates that securing sufficient energy supplies for its population remains a priority and says it will continue obtaining energy from multiple sources while responding to changes in global market conditions.
India’s foreign ministry says the issue has been raised during high-level discussions with US officials in recent months and that New Delhi has outlined its concerns over the possible effects on both bilateral relations and global energy markets.
“This issue has been discussed at high levels in recent months with various US interlocutors. Its potential implications for not just the bilateral relationship but also the international energy market have been very clearly articulated by the Indian side,” the ministry said.
The ministry further emphasizes India’s intention to defend its economic and commercial interests as the situation develops.
The ministry stated that the Indian side “has also made clear its determination to take all necessary measures to protect its trade and economic interests.”
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
