S. Jaishankar met US Secretary of State Marco Rubio in New York on Wednesday, where the two discussed potential US sanctions targeting countries that trade with Russia and Iran.
The law, the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, allows President Trump to impose up to 100% tariffs within 30 days on goods imported from the five largest Russian crude buyers and other nations that purchase Russian oil after the bill's enactment.
India, one of the five biggest Russian crude importers, has increased its purchases of discounted Russian oil since the 2022 invasion, prompting the US to levy a 50% tariff on Indian goods in August 2025. Trump later rolled back the duties in February, citing India's pledge to cut Russian oil purchases, but India only briefly reduced imports in early 2026 and has since rebounded, especially after the supply shock triggered by the US‑Israeli war on Iran.
Jaishankar warned that the new bill could jeopardise India’s energy security and urged Washington to consider a more balanced approach. He said the ministry will lobby the White House before the bill’s enforcement deadline on 30 September 2026, and will seek assurances that Indian goods will not face retaliatory tariffs.