New Delhi [India], August 1 (ANI): India is keeping a close watch on a US bill that empowers Washington to impose tariffs of up to 100 per cent on nations purchasing Russian oil and gas, the Ministry of External Affairs (MEA) said on Friday, days after the proposed legislation cleared the US Senate.Addressing the weekly media briefing in the national capital, MEA spokesperson Randhir Jaiswal stated that New Delh
India Monitors US Bill on Tariffs for Russian Oil Buyers
India is monitoring a US bill that could impose tariffs of up to 100% on countries buying Russian oil and gas. The bill has passed the US Senate, prompting India's Ministry of External Affairs to express concern. This situation could impact Iran as it navigates its own oil exports amidst international sanctions.
👥 Key Players
📰 What Happened
India is closely monitoring a US bill that could impose significant tariffs on countries buying Russian oil and gas. This legislation has recently passed the US Senate and raises concerns for India regarding its energy imports.
- The proposed tariffs could be as high as 100%.
- India has been a significant buyer of Russian oil, especially amidst Western sanctions.
💡 Why It Matters
📚 Background
The US has been imposing sanctions on Russia due to its actions in Ukraine, leading to significant shifts in global oil supply and pricing. Countries like India, which rely on Russian oil, face tough choices.
🏷️ Entities Mentioned
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