New Delhi says it is monitoring the US legislation and will take necessary steps to protect its trade and economic interests
India commits to energy diversification and protecting trade interests following the new US sanctions bill. Photo: Collected
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India commits to energy diversification and protecting trade interests following the new US sanctions bill. Photo: Collected
India today (17 September) said it would continue diversifying its energy sources to ensure energy security after the US Congress passed a bill allowing the Donald Trump administration to impose tariffs of up to 100% on countries buying crude oil from Russia and Iran.
The Ministry of External Affairs (MEA) said New Delhi had taken note of the passage of the Sanctioning Russia and Iran Act and was monitoring further developments.
“As stated on several earlier occasions, India remains firmly committed to ensuring energy security for its 1.4 billion people. It will continue to do so through diversified sourcing and on the basis of evolving market dynamics,” the MEA said in a statement.
India has discussed the issue with several US interlocutors at high levels in recent months, the ministry said.
New Delhi has also clearly outlined the potential implications of the measures for bilateral relations and the international energy market, it said.
“The Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests,” the statement said.
The government will work closely with Indian trade and industry bodies to address the implications of the developments, it added.
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