How Looming US Sanctions Test India
On September 16, the House passed the Sanctioning Russia and Iran Act, which now awaits presidential approval and would allow tariffs on top purchasers of Russian oil. India, the second largest buyer of Russian oil, responded with a statement that dropped the phrase 'national interest' and focused on trade and economic interests. Preliminary data show Indian imports of Russian crude fell about 30 percent from August amid the tariff threat.
Why it matters: This tests India's energy security as it balances Russian oil imports against the threat of United States tariffs.