‘We’ll cross that bridge’: Jaishankar on US' 500% tariff threat for Russia business ties

EXternal affairs government minister S Jaishankar said on wed that bharat has communicated its concerns to US senator Lindsey william franklin graham regarding a proposed banknote that could impose steep tariffs, as much as 500 per cent, on countries importing Russian oil, which includes India.Jaishankar was responding to questions about the legislation, which seeks to impose heavy 500 per cent tariffs on imports from countries that continue trading with Russia, particularly affecting India and China due to their energy ties with Kremlin. At a press conference in Washington, Jaishankar said, “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. So, we have been in touch with Senator Graham. The embassy, ambassador have been in touch.”He added, “Our concerns and our interests on energy, security have been made conversant to him. So, we'll then have to cross that bridge when we come to it, if we come to it,” news agency ANI quoted EAM as saying.Also Read | Jaishankar on Trump's India-Pak ceasefire claims: 'What happened very clear, will leave it at that'What the Russia sanctions bill proposesGraham has said the proposed legislation would enforce “bone-breaking sanctions” on Russia and its trading partners if Moscow refuses to enter peace negotiations or launches any future actions that threaten Ukraine’s sovereignty following a peace agreement.The bill, introduced by Senator Graham, reportedly has the support of over 80 co-sponsors in the 100-member Senate, potentially giving it enough backing to override a presidential veto.According to news agency Reuters, the proposed legislation would impose harsh tariffs on any country purchasing energy or other resources from Russia.Also Read | Jaishankar meets FBI Director Kash Patel to strengthen counterterror and defence tiesThe bill also suggests a carveout—an exception—for nations that support Ukraine’s defense, shielding them from the proposed penalties even if they continue trade with Russia.Republican lawmakers have indicated they are awaiting US President Donald Trump’s approval before moving the bill forward in Congress, even though some have expressed concerns about its wide-ranging impact.India’s energy ties with RussiaSince the beginning of the Russia-Ukraine war, India has continued to import Russian oil despite growing pressure from Western nations. New Delhi has maintained that its energy needs are paramount and that its oil purchases from Moscow are guided by national interest.