India Committed To Ensure Its Energy Security: MEA On US’ Russia Sanctions Act

NEW DELHI, Sept 17: India remains firmly committed to ensuring energy security for its 1.4 billion people and will continue to pursue diversified sources of energy based on evolving market dynamics, the Ministry of External Affairs (MEA) said on Thursday, while responding to the US legislation proposing sanctions on Russia and tariffs on its trading partners.

The statement came after the US House of Representatives passed the Lindsey O. Graham Sanctioning Russia and Iran Act, which authorises US President Donald Trump to impose sanctions on Russia and steep tariffs on countries such as India and China in the oil and gas sector.

“As stated on several earlier occasions, India remains firmly committed to ensuring energy security for its 1.4 billion people,” the MEA said.

“It will continue to do so through diversified sourcing and on the basis of evolving market dynamics,” it added.

The Ministry said the issue had been discussed at high levels with various US interlocutors in recent months, with India clearly conveying its concerns over the possible consequences of the proposed measures.

“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 MEA said.

The Ministry further said India had conveyed to the US its determination to take all necessary measures to safeguard the country’s trade and economic interests.

“The Government will work closely with Indian trade and industry bodies to deal with the implications of these developments,” it said.

India has repeatedly maintained that its energy sourcing decisions are guided by domestic requirements and prevailing international market conditions. The latest US legislative move has therefore emerged as a matter of discussion between the two countries, particularly over its possible implications for bilateral trade and global energy markets. (Agencies)