Now Reading: India-US talks on Russia oil tariff Bill ‘reassuring’: sources
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India-US talks on Russia oil tariff Bill ‘reassuring’: sources
India is in talks with the US on a Senate Bill that proposes up to 100 per cent tariffs on countries buying Russian oil, and the discussions so far have been 'reassuring',…
The Story in Brief
India is in talks with the US on a Senate Bill that proposes up to 100 per cent tariffs on countries buying Russian oil, and the discussions so far have been 'reassuring', sources said. The Bill, officially the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, has passed the Senate but still needs House approval. The final decision on penalties rests with President Donald Trump.
Commerce Secretary Rajesh Agarwal declined to comment, calling it a US legislative process. India is also seeking protection from further tariff hikes as part of the bilateral trade agreement being negotiated with Washington. In July 2026, Russia supplied about 52 per cent of India's crude imports, estimated at $7.3 billion of a total $14 billion, according to GTRI.
The Indian Opinion
The 'reassuring' talk from Washington sounds comforting, but a legislative process can shift overnight. Some narratives paint India as defying US pressure on Russian oil, yet the government is quietly negotiating exemptions. Others frame the Bill as an existential threat to trade, ignoring that India is also bargaining for tariff protections in the BTA. The real test: will the final trade deal explicitly shield India from such penalties, or will it be a vague promise? Watch how the House votes.
Sources (2): thehindubusinessline.com, thehindubusinessline.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
