Jaishankar Says India Is Engaging US Senator Lindsey Graham Over Bill Proposing 500 Per Cent Tariff Over Russian Oil Imports

External Affairs Minister S Jaishankar has responded to a US Senator's bill that proposes a 500 per cent tariff on imports from countries trading with Russia for oil, gas, or uranium, a legislation that could significantly impact India.

Speaking at a press conference in Washington DC on Thursday (3 July), Jaishankar said India is closely monitoring the situation, Indian Express reported.

“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 stated.

He added that Indian officials, including the embassy and ambassador, have been in contact with Senator Graham, conveying the country’s concerns and interests in energy security.

"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," he said.

“So, we’ll then have to cross that bridge when we come to it, if we come to it," he added.

The bill, introduced by Republican Senator Lindsey Graham, has over 80 co-sponsors and could be veto-proof.

It proposes steep tariffs on countries that continue buying energy from Russia, especially without aiding Ukraine.

Graham told that countries like India and China, which purchase 70 per cent of Russia’s oil and thereby sustain its war efforts, would face steep penalties under the proposed measure.

“If you’re buying products from Russia and you’re not helping Ukraine, then there’s a 500 per cent tariff on your products coming into the United States,” He said.

India, a major US trade partner, has continued its energy imports from Russia despite Western sanctions, citing energy security and long-standing strategic ties.

Graham also indicated support from former US President Donald Trump, stating, “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 exemption could apply to nations aiding Ukraine, but if enacted, the bill could have far-reaching economic and diplomatic implications for India.

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