Congress questions Piyush Goyal

The Congress has sought clarification from Commerce and Industry Minister Piyush Goyal over a proposed United States sanctions bill that could impose tariffs of up to 100% on Indian goods because of India’s continued purchases of Russian oil. Congress Questions Piyush Goyal on Tariff Threat Congress media and publicity department head Pawan Khera asked Goyal to explain the government’s position on the bipartisan bill introduced by US senators. Khera said the proposal had support from Republican senators and US President Donald Trump. He described the tariff threat as punitive and questioned its implications for India’s energy independence and ongoing trade negotiations with Washington. The remarks came after Goyal rejected reports suggesting that India was delaying an interim trade agreement with the United States. He said negotiations remained focused on securing a balanced and mutually beneficial agreement. US Bill Targets Russian Oil Buyers The proposed legislation would allow the US president to impose tariffs of up to 100% on goods from the five largest purchasers of Russian oil and natural gas. India, China, Slovakia, Hungary and Azerbaijan are listed among the leading buyers of Russian crude. The bill seeks to reduce Moscow’s energy revenues and increase economic pressure over the continuing war in Ukraine. The revised proposal lowers the maximum tariff from 500% under an earlier version to 100%. Russia Sanctions Bill Not Yet Law The legislation also proposes sanctions against Russian officials, financial institutions, major energy projects and vessels accused of helping Moscow evade existing restrictions. Certain natural gas importers could receive exemptions when their purchases remain below the prescribed threshold and they demonstrate efforts to reduce dependence on Russia. The bill has not yet been approved by the US Congress. Its tariff provisions would therefore not take effect unless the legislation is passed and signed into law.

Congress Seeks Goyal Reply on US Tariff Bill

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