India has reaffirmed its commitment to ensuring energy security for its 1.4 billion people after the US Congress passed the Russia sanctions bill, providing for tariffs of up to 100 per cent on goods from major buyers of Russian energy. In a statement, the Foreign Ministry also highlighted the potential trade and economic risks arising from the legislation that also targets Russia’s leadership and the “shadow fleet” of vessels that enable Moscow to evade sanctions on oil deliveries.

India is currently Russia’s top buyer of seaborne crude, and the new legislation empowers the US president to impose unprecedented duties as panalities. However, Indian refiners have already been leaning on the US, Brazil, Canada, Venezuela, and Africa for additional and more varied supplies to diversify their purchases.