Economy, business and finance
US House passes Russia sanctions bill, India faces up to 100 pc tariff; MEA reacts

The bill authorises sanctions on Russia and Iran and gives Trump tariff powers targeting countries that continue buying Russian oil and gas
The US House of Representatives passed a bill that would authorise President Donald Trump to impose sanctions on Russia and steep tariffs on its trading partners in oil and gas, including India and China. Reacting to the development, India said it was monitoring further developments and remained committed to ensuring energy security for its 1.4 billion people.
The Lindsey O Graham Sanctioning Russia and Iran Act of 2026, passed by the US Senate last month, was approved by the House in a 262-159 vote on Wednesday evening and will now go to Trump to be signed into a law. Besides 203 Republicans, 58 Democrats and one Independent voted in favour of the legislation. Seven Republicans and 152 Democrats opposed it.
Democratic opposition largely centered on the tariff authorities provided to Trump.
The Ministry of External Affairs said the issue had been discussed at high levels with various US interlocutors in recent months, with the Indian side clearly articulating its potential implications for both the bilateral relationship and the international energy market.
India has also made clear its determination to take all necessary measures to protect its trade and economic interests, the MEA said, adding that the government would work closely with Indian trade and industry bodies to deal with the implications of the developments.
The bill is named after Senator Lindsey Graham, the South Carolina Republican who died in July after spending more than a year building support for it.