India in its first response to US President Donald Trump backing a 500% tariff bill on Russian oil, stated that the government is “fully aware of the proposed bill being discussed” and is ‘carefully monitoring’ all developments connected with it.
“We are fully aware of the proposed bill being discussed, and we are carefully monitoring all related issues and developments connected with it. At the same time, I would like to say that, as far as energy sources are concerned, you are well aware of our approach. We take into account the conditions and environment in the global market, while also keeping in mind our imperative of ensuring that energy is made available at affordable prices to our 1.4 billion people. Based on these factors, we determine our strategy and policy.”
The Russia Sanctions Bill, chiefly written by Republican Senator Lindsey Graham and Democratic Senator Richard Blumenthal, allows the US administration to impose tariffs and secondary sanctions up to 500% on countries that purchase Russia’s oil, gas, uranium and other exports. The measure aims to choke off a key source of funding for Russia’s military operations.
(This is a developing story. Keep checking for more updates)