US Set to Sign Major Sanctions Bill Impacting Energy Buyers
US President Donald Trump is expected to sign the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 on Friday, according to White House reports. The controversial legislation grants the executive branch the power to levy tariffs of up to 100 percent on nations that continue importing Russian oil and gas, directly putting major buyers like India and China in the crosshairs.
The bill successfully cleared the House of Representatives with a 262-159 vote following its Senate approval last month. While the legislation does not automatically trigger a 100 percent tariff on Indian imports, it creates a robust legal framework enabling the US administration to implement such steep duties under specific geopolitical conditions.
India Responds Firmly to Protect National Interests
Reacting sharply to the developments, India's Ministry of External Affairs stated that the government remains resolute in protecting its trade and economic interests. New Delhi has communicated its strong reservations to American interlocutors at high levels, emphasizing that such policies could destabilize both bilateral ties and international energy markets.
"India remains firmly committed to ensuring energy security for its 1.4 billion people and will continue buying energy through diversified sourcing based on evolving market dynamics." — Ministry of External Affairs, Government of India
As Washington prepares to enact these sweeping measures alongside a five-year extension on Iran sanctions, global markets and policy experts are closely monitoring how New Delhi and Washington navigate this crucial diplomatic crossroad.