MEA assures commitment to energy security amid US' Russia sanctions

India reiterated its dedication to guaranteeing energy security for its 1.4 billion citizens, according to a statement from the Ministry of External Affairs (MEA) on Thursday, in response to US sanctions legislation targeting Russia. The US House of Representatives approved the Lindsey O Graham Sanctioning Russia and Iran Act, which empowers President Donald Trump to implement sanctions against Russia and levy substantial tariffs on its commercial counterparts, including India and China, specifically within the oil and gas sector.

The Government of India has observed the progression of the Sanctioning Russia and Iran Act through the US Congress and is tracking subsequent developments. As previously articulated on multiple occasions, India maintains a resolute commitment to guaranteeing energy security for its 1.4 billion citizens, the MEA stated in a release. It will proceed with diversified procurement strategies predicated on shifting market conditions.

The matter has been under deliberation with numerous United States counterparts in recent months. The potential ramifications for both the bilateral dynamic and the global energy landscape have been unequivocally conveyed by Indian officials. India has also affirmed its resolve to implement all requisite actions to safeguard its commercial and economic interests. The government will maintain close coordination with Indian trade and industry organizations to navigate the implications of these developments, MEA stated further.