India vows to protect energy security as US Russia bill opens door to 100% tariffs
Economic Times 1 hr ago·17 Sept 2026, 4:39 am
The US Congress is reviewing a bill that could permit tariffs of up to 100% on nations that keep buying Russian energy. If enacted, countries importing Russian oil or gas may face a sharp rise in costs for those supplies.
India, which obtains roughly 30% of its crude oil from Russia, said it is closely tracking the proposal. Higher tariffs would lift the price of Russian fuel, putting pressure on India’s trade balance and potentially increasing energy costs for consumers and industry.
Investors should keep an eye on the progress of the US legislation and on any Indian policy moves aimed at diversifying energy sources, such as new supply contracts or strategic reserve builds. Shifts in these areas could influence energy‑related stocks and overall market sentiment.
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- Category: Economy.
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