India in touch with US on proposed Bill to impose 500 pc tariff on countries importing Russian oil
States its concerns about a proposal to impose 500 percent tariffs on countries buying oil from Russia, asserting "we will cross the bridge when we come to it".
Dr Jaishankar said at a press conference here last night that any development in the US Congress that affects India, is of interest to New Delhi.
He was commenting on the US proposal to impose 500 percent tariff on countries buying oil from Russia. Dr Jaishankar said India's concerns had been conveyed to Senator Lindsey Graham.
Senator Lindsey Graham is in discussions with President Donald Trump about the proposed Bill on Russia to impose a 500 per cent tariff on imports from any nation that purchases Russian oil, gas, uranium and other products. Some Republican lawmakers have expressed concern about advancing the Bill.
'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. So, we have been in touch with Senator Graham. 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,' Dr Jaishankar said.
The Bill co-sponsored by Lindsey Graham with Democratic Senator Richard Blumenthal, will allow the US to impose 500 per cent tariffs on India and China, among many other countries to stop them from buying Russian oil and gas thereby supporting Russia in the Ukraine war. The Bill, first introduced in March, faced delays because of some opposition. However, Graham has claimed that it is being supported by 84 senators.
India and China are the two major buyers of Russian oil and the Bill, if passed, will create problems for both countries.
India maintains that its oil trade with Russia is legal. However, the Bill could allow imposition of 500 per cent tariffs on Indian imports specially on pharmaceuticals and textiles exports.
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