‘Will have implications for bilateral ties’: Govt after US Congress passes Russia sanctions bill

This new legislation gives the US President powers to impose up to 100% tariffs on countries like China and India which are major buyers of Russian crude.

NEW DELHI: India stressed that the US move will have consequences for bilateral ties, recalling its “clearly articulated” messages earlier about potential implications for the relationship as well as global energy markets.In a formal response, the foreign ministry said India remained firmly committed to ensuring energy security for its 1.4 billion people and will continue to do so through diversified sourcing and on the basis of evolving market dynamics. The ministry also said India had made clear its determination to take all necessary measures to protect its trade and economic interests and will work closely with Indian trade and industry bodies to deal with the implications of these developments.Indian ambassador to US, Vinay Kwatra, subsequently posted on X: “India imports over 85% of its crude oil and around half its natural gas. Our sourcing reflects a fundamental national responsibility: looking outside our borders to secure adequate, affordable and uninterrupted energy for our people.”India is the world’s fastestgrowing major economy and its third-largest energy consumer. Yet the average Indian consumes less than one-third of the global average and one-tenth of an average American. Our energy needs will, and must, grow,” Kwatra said.“Govt of India has noted the passage of Sanctioning Russia and Iran Act in the US Congress. We are monitoring further developments on this matter,” MEA stated.“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,” it added.Top American officials have ended up having a meltdown on several occasions in the past one year about India’s procurement of Russian oil, even accusing Indian govt of funding Russia’s war. However, the Indian side has maintained that its energy policy is driven by national interests and the need to ensure affordable and reliable energy supplies. The US Congress endorsement of the Russia sanctions bill comes at a time when India was working proactively with both Russia and Ukraine to end the war.PM Modi underscored the need to bring the conflict to an end in back-toback meetings with Russian President Vladimir Putin. Foreign minister S Jaishankar also travelled to Ukraine this month to discussed ideas for cessation of military hostilities.However, in Ukraine, Jaishankar also said the conflict will be resolved through dialogue and diplomacy and not by dwelling over which country was buying oil from where.