India: Aware Of America’s 500% Tariff Bid, Acting With Great Care

NEW DELHI- India on January 9 said that it is aware of the US bill that proposes to raise tariffs on countries buying energy products, including oil, from Russia to at least 500 per cent, adding that it is dealing with the issue with “great care”.

Emphasizing that ensuring stable energy prices and secured supplies have been the twin goals of the country’s energy policy, the Ministry of External Affairs said that the country has focused its attention on the evolving issues around the US bill, titled the “Sanctioning of Russia Act 2025”.

“The bill you are talking about, the proposed bill; we are aware of it. We have focused our attention on these issues and on this bill with great care,” a spokesperson said.

“Along with that, I would like to tell you that as far as the question of energy sources is concerned, you are well aware of what our attitude is and what our approach is. On energy sourcing, our position has been clarified several times,” he noted.

He said that whether India buys oil from one region or another, “we follow a broad approach”. “It is based on two imperatives — one is the available or evolving global dynamics and two, the imperative to provide energy at affordable rates to our 1.4 billion people,” he mentioned.

India has said in the recent past that the country’s import policy for oil and gas is guided entirely by the interests of the Indian consumers amid a volatile global energy market. (IANS)