US sanctions bill raises pressure, but India unlikely to reduce Russian oil imports
- India is unlikely to cut Russian oil purchases despite the US House passing a sanctions bill on 16 September.
- The bill, passed 262-159, allows Trump to impose tariffs up to 100% on major buyers of Russian energy.
- Analysts said Russia supplied 1.9 million barrels/day of India's 4.6 million barrels/day crude imports in August.
- India's MEA said it would take all necessary measures to protect trade interests amid the legislation's fallout.
Source: moneycontrol.com
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