India reviews US law targeting Russian oil buyers with potential tariffs

India is reviewing the implications of the ‘Lindsey O. Graham Sanctioning Russia and Iran Act of 2026’, a US law recently signed by President Donald Trump. The legislation authorizes the US administration to impose tariffs of up to 100 per cent on the top five purchasers of Russian oil and gas. As one of the primary buyers of Russian energy, India could face significant duties on its exports to the United States.

Commerce and Industry Minister Piyush Goyal stated that India will study the specific details of the law before engaging in discussions at an appropriate time. Goyal is expected to hold bilateral talks with US Trade Representative Jamieson Greer during the G20 Trade Ministerial in Milwaukee later this month.

Analysts suggest the law represents a bipartisan effort to pressure Russia’s commercial partners to facilitate a peace deal in the Russia-Ukraine conflict. While experts note that the maximum 100 per cent tariff is unlikely to be applied in full, the potential for new duties poses a challenge to the recent recovery in India-US bilateral relations.