US President Donald Trump signed the Sanctioning Russia and Iran Act of 2026 on September 18, authorising tariffs of up to 100 percent on the five largest buyers of Russian oil and gas, with India’s Ministry of External Affairs saying it will take all necessary measures to protect its trade and economic interests.
Two details in the law shape how much weight to give the headline. The tariffs are not automatic, and the list of the five largest buyers is to be reassessed every 180 days, which means the exposure is recalculated twice a year.
For India, the numbers explain the concern. Russian crude made up about 45 percent of imports in August and 56 percent in July, so any tariff that made those barrels harder to buy would matter for cost and supply.
The Indian response reflects the uncertainty. The government says it will work with trade and industry bodies and keep diversifying sourcing, which prepares for a range of outcomes without treating a tariff as a foregone conclusion.
The practical reading is that this is a standing lever rather than a completed measure. What happens next depends on how the US administration chooses to use it and how India’s purchases develop over the coming months.
In July 2026, Russian crude accounted for about 2.82 million barrels per day, or 56 percent of India’s imports.
India is the world’s third-largest consumer of crude oil.
The Ministry of External Affairs said it had taken note of the passage of the bill and was monitoring developments.
It said India remains firmly committed to ensuring energy security for its 1.4 billion people through diversified sourcing and evolving market dynamics.
The ministry said India has made clear its determination to take all necessary measures to protect its trade and economic interests.
It added that the government will work closely with Indian trade and industry bodies to deal with the implications.
Essar Oil refinery, India (representative image), Wikimedia Commons, CC BY 2.0