India to take 'all necessary measures' to protect economic interests after US passes Russia sanctions bill

Dawn reported that India's foreign ministry said on Thursday it would keep buying oil from a range of suppliers after US lawmakers approved a bill intended to pressure Moscow over the conflict in Ukraine. The measure hits Russia's energy and defence industries, President Vladimir Putin, several senior officials and a covert tanker network that helps Moscow sidestep Western restrictions.

The legislation also lets Donald Trump levy duties of as much as 100 per cent on heavy purchasers of Russian crude and gas, with China and India named as possible targets. New Delhi said it stays focused on energy supply security for 1.4 billion citizens and will keep sourcing from varied suppliers according to market conditions. It added that it was determined to take every necessary step to safeguard its commercial and economic position.

Indian refiners almost doubled their Russian crude intake in March, to 2.25 million barrels daily, helped by temporary US waivers. Shipments then reached a record 2.81 million in July, before slipping to 2.07 million last month, Kpler data show.