Exterior Affairs Minister Dr S Jaishankar Thursday, addressed the US proposal to impose a 500 per cent tariff on Russian oil imports, saying India will carefully monitor developments that would affect its vitality safety.
“Concerning Senator Lindsey Graham’s invoice, any improvement which is going on within the US Congress is of curiosity to us if it impacts our curiosity or may affect our curiosity,” Jaishankar stated at a press convention. “We have now been in contact with Senator Graham. The embassy and ambassador have been in contact. Our issues and our pursuits in vitality, safety have been made conversant to him. So, we’ll then must cross that bridge once we come to it, if we come to it.”
Graham’s invoice, which has greater than 80 co-sponsors within the Senate, would impose a 500 per cent tariff on imports from any nation that trades with Russia for oil, fuel, uranium or different merchandise. The invoice might be veto-proof.
#WATCH | Washington, DC | On a query by ANI relating to US plans to impose 500% Tariffs on import of the Russian Oil, EAM Dr S Jaishankar says, “Concerning Senator Lindsey Graham’s invoice, any improvement which is going on within the US Congress is of curiosity to us if it impacts our… pic.twitter.com/CvhbT6zMmH
— ANI (@ANI) July 2, 2025
“Large breakthrough right here. So what does this invoice do? In the event you’re shopping for merchandise from Russia and also you’re not serving to Ukraine, then there’s a 500 % tariff in your merchandise coming into the USA. India and China purchase 70 % of Putin’s oil. They preserve his conflict machine going,” Graham advised ABC Information.
India has continued importing Russian oil for the reason that Ukraine conflict, sustaining its long-standing ties with Moscow regardless of Western sanctions.
Whereas some Republican lawmakers are hesitant, they’re reportedly ready for US President Donald Trump’s approval. Graham confirmed coordination, stating, “My invoice has 84 co-sponsors. It might enable the president to place tariffs on China, India, and different international locations to cease them from supporting Vladimir Putin’s conflict machine and get him to the desk. For the primary time yesterday, the president advised me … I used to be enjoying golf with him [Trump]. He says, ‘It’s time to maneuver your invoice.’”
A possible carveout within the invoice may exempt international locations helping Ukraine’s defence from the steep tariffs. For India, which counts the US as a prime export market, the measure may have wide-ranging financial and diplomatic penalties.