Sitharaman signals no EU curbs on Russian oil purchases amid trade talks

Finance Minister Nirmala Sitharaman on Tuesday clarified that European nations are not subject to punitive trade measures comparable to those outlined in the proposed Lindsey Graham Bill, signalling India's position on ongoing international trade dynamics.

The Lindsey Graham Bill, currently under consideration in the United States Congress, would grant the US president authority to impose tariffs of up to 100 per cent on goods originating from countries identified as major purchasers of Russian oil. The measure reflects Washington's efforts to enforce compliance with sanctions against Russia.

Sitharaman's statement underscores the distinction between US policy frameworks and the regulatory environment in Europe, where trade relationships with Russia remain more nuanced. The comments suggest India is monitoring how different global blocs navigate sanctions compliance while maintaining commercial relationships.

The Finance Minister's remarks come amid India's broader trade negotiations with multiple partners. New Delhi has maintained a balanced approach on Russian sanctions, citing energy security needs while engaging with Western nations on trade and investment matters.