India To Prioritise Energy Security Amid Potential US Tariffs On Russian Oil Buyers

New Delhi, Sep 17 (KNN) India has said its Russian energy sourcing decisions will continue to be guided by national interests and energy security, as it monitors the possibility of additional US tariffs following the passage of legislation targeting major buyers of Russian energy.

The Ministry of External Affairs (MEA) said on Thursday that India remains committed to ensuring energy security for its 1.4 billion people through diversified sourcing and evolving market dynamics.

US Bill Could Raise Tariffs

The US House of Representatives on Wednesday passed the Lindsey O. Graham Sanctioning Russia and Iran Act, sending it to President Donald Trump for consideration, reported Businessline.

If signed into law, the legislation would authorise tariffs of up to 100 per cent on major buyers of Russian energy, including India.

The MEA said the potential implications of the legislation for bilateral ties and global energy markets had been conveyed to US interlocutors at senior levels in recent months.

India is also determined to take necessary measures to protect its trade and economic interests, the ministry said, adding that it would work with Indian trade and industry bodies to address the impact of the developments.

Russia Remains Major Crude Supplier

India significantly increased purchases of Russian crude following the Ukraine conflict as refiners benefited from discounted supplies. Russia accounted for nearly a third of India’s crude imports by value in FY26, with imports estimated at around USD 40.8 billion, according to industry data.

Ajay Srivastava, Global Trade Research Initiative (GTRI) said the legislation could allow Washington to use the threat of higher tariffs to pressure India over Russian oil purchases.

He argued that neither a trade agreement nor a reduction in Russian oil purchases would necessarily shield India from potential future US trade action under Section 301, sector-specific measures or other trade laws.

(KNN Bureau)