Determined to protect trade, economic interests: India on US Russia sanctions bill

Reacting to the US Congress passing the sweeing Russia sanctions bill, the government said that it remained committed to ensuring energy security for 1.4 billion people and would continue to pursue it through diversified sourcing and based on evolving market dynamics.

India on Thursday said it was determined to protect its trade and economic interests after the US House of Representatives passed a sweeping Russia sanctions bill that will impose tariffs of up to 100% on countries including India and China over their purchases of Russian oil and gas.

In a statement, the External Affairs Ministry said the government remained committed to ensuring energy security for 1.4 billion people and would continue to pursue it through diversified sourcing and based on evolving market dynamics.

It said the issue had been discussed at high levels with various US interlocutors in recent months, with India clearly articulating the potential implications of the legislation for both bilateral ties and the international energy market.

“The Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests,” the ministry said, adding that it would work closely with trade and industry bodies to deal with the implications of the US move.

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