NEW DELHI, Sept 17 (Bernama-Anadolu) -- India on Thursday said it would take “all necessary measures to protect its trade and economic interests" after the US Congress passed a major Russia sanctions bill, Anadolu Ajansi reported.
India’s Ministry of External Affairs acknowledged the passage of the Sanctioning Russia and Iran Act in the US Congress, saying, "we are monitoring further developments on this matter.”
The House approved the bill on Wednesday by a 262-159 vote, with dozens of Democrats joining Republicans. The measure now goes to US President Donald Trump for his signature. The legislation would allow the Trump administration to impose tariffs of up to 100 per cent on countries purchasing Russian oil and gas, including China and India.
New Delhi on Thursday also said India remains “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.”
“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 stated that the Indian side “has also made clear its determination to take all necessary measures to protect its trade and economic interests.”
“Government will work closely with Indian trade and industry bodies to deal with the implications of these developments,” it said.
The US and India announced in February that they had reached an interim framework deal to end a bilateral trade dispute.
Last year, tensions escalated between the two countries over the 50 per cent tariffs imposed on Indian goods by the Trump administration, partly because India purchased Russian oil amid the ongoing Moscow-Kyiv war.
Trade between India and Russia reached a record US$68.7 billion last year.
-- BERNAMA-ANADOLU