External Affairs Minister S. Jaishankar held bilateral talks with US Secretary of State Marco Rubio in New York on Wednesday, focusing on India's strategic and economic concerns regarding the proposed Sanctioning Russia and Iran Act (SRIA). The meeting took place on the sidelines of the 81st United Nations General Assembly High-Level Week.
Following the discussion, Jaishankar shared an update on social media platform X, stating: "Good to meet @SecRubio of the US. Reiterated India's interests and concerns with regard to SRIA. Also discussed the Gulf and Ukraine situations."
The SRIA, which has received support from President Trump following its passage through both houses of Congress, aims to expand sanctions and trade restrictions on Russia and extend existing penalties on Iran. The legislation specifically targets Russia's petroleum and military sectors, as well as its banking institutions and the maritime "shadow fleet" used to circumvent crude oil export limitations.
While the bill does not automatically trigger a 100% tariff on Indian imports, it grants the US executive branch the authority to impose such duties under specific conditions. As a major purchaser of Russian crude, India faces potential implications from the legislation. In response to the bill's progress, the Ministry of External Affairs emphasized that New Delhi is determined to safeguard its economic interests.
"As stated on several earlier occasions, India remains firmly committed to ensuring energy security for its 1.4 billion people. It will continue to do so through diversified sourcing and on the basis of evolving market dynamics," the Ministry stated, adding that it is closely monitoring further developments. Meanwhile, India and the US are continuing separate negotiations regarding a bilateral trade agreement, with further discussions anticipated during the upcoming G20 Trade Ministers’ meeting in Wisconsin.
