‘We'll cross that bridge when we come to it': S Jaishankar on US' 500% tariff bill for India

Indian Express

14 hours ago

External Affairs Minister Dr S Jaishankar Thursday, addressed the US proposal to impose a 500 per cent tariff on Russian oil imports, saying India will closely monitor developments that could impact its energy security.
'Regarding Senator Lindsey Graham's bill, any development which is happening in the US Congress is of interest to us if it impacts our interest or could impact our interest,' Jaishankar said at a press conference. 'We have been in touch with Senator Graham. The embassy and ambassador have been in touch. Our concerns and our interests in energy, security have been made conversant to him. So, we'll then have to cross that bridge when we come to it, if we come to it.'
Graham's bill, which has more than 80 co-sponsors in the Senate, would impose a 500 per cent tariff on imports from any country that trades with Russia for oil, gas, uranium or other products. The bill could be veto-proof.
#WATCH | Washington, DC | On a question by ANI regarding US plans to impose 500% Tariffs on import of the Russian Oil, EAM Dr S Jaishankar says, 'Regarding Senator Lindsey Graham's bill, any development which is happening in the US Congress is of interest to us if it impacts our… pic.twitter.com/CvhbT6zMmH
— ANI (@ANI) July 2, 2025
'Big breakthrough here. So what does this bill do? If you're buying products from Russia and you're not helping Ukraine, then there's a 500 percent tariff on your products coming into the United States. India and China buy 70 percent of Putin's oil. They keep his war machine going,' Graham told ABC News.
India has continued importing Russian oil since the Ukraine war, maintaining its long-standing ties with Moscow despite Western sanctions.
While some Republican lawmakers are hesitant, they're reportedly waiting for US President Donald Trump's approval. Graham confirmed coordination, stating, 'My bill has 84 co-sponsors. It would allow the president to put tariffs on China, India, and other countries to stop them from supporting Vladimir Putin's war machine and get him to the table. For the first time yesterday, the president told me … I was playing golf with him [Trump]. He says, 'It's time to move your bill.''
A potential carveout in the bill could exempt countries assisting Ukraine's defence from the steep tariffs. For India, which counts the US as a top export market, the measure could have wide-ranging economic and diplomatic consequences.