In a recent statement, India's External Affairs Minister, S. Jaishankar, highlighted the country's apprehensions regarding a proposed legislation by US Senator Lindsey Graham. The bill, if enacted, could impose staggering tariffs of up to 500% on nations importing Russian oil, a list that notably includes India. This announcement came during a press conference held in Washington on Wednesday, where Jaishankar addressed questions surrounding the implications of this bill for India, particularly as it navigates its energy ties with Russia amidst ongoing geopolitical tensions.

Jaishankar explained that any legislative developments in the US Congress that could potentially affect India's interests are closely monitored. He stated, “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. The embassy, ambassador have been in touch.” He emphasized the proactive approach India is taking by ensuring that its concerns and interests regarding energy security have been clearly communicated to Senator Graham, saying, “Our concerns and our interests on 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.”

Senator Graham has championed this legislation as a means to implement “bone-breaking sanctions” on Russia and its trading partners, particularly in response to the ongoing conflict in Ukraine. The bill is designed to penalize countries that maintain trade with Russia, effectively targeting nations like India and China that have substantial energy transactions with the Kremlin. With over 80 co-sponsors in the 100-member Senate backing the bill, its chances of passing and potentially overriding a presidential veto appear strong.

According to reports from news agency Reuters, the proposed legislation seeks not only to implement severe tariffs on countries purchasing energy from Russia but also includes a provision that would grant exceptions for nations aiding Ukraine's defense, thereby protecting them from the proposed penalties, even if they continue engaging in trade with Russia.

Despite significant pressure from Western allies to curtail its imports of Russian oil, India has maintained its stance, asserting that its energy needs take precedence. The ongoing conflict has put India in a delicate position, balancing its energy requirements against international expectations. The Indian government has consistently reiterated that its purchases from Russia are driven by national interests, underscoring the complexity of the geopolitical landscape.

The developments surrounding this legislation come as India continues to fortify its diplomatic ties with both the US and Russia, navigating a challenging global environment where energy security and international relations are increasingly intertwined.