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US Sanctions
Beijing on Tuesday expressed "firm opposition" to the Trump administration's sanctions on five Chinese companies connected to a former Google engineer accused of intellectual property theft. The move "severely harms the legitimate rights and interests" of Chinese businesses, the country's commerce ministry said in a statement. "The nature of this act is egregious. China firms opposes this." The ministry also urged the US to "correct its erroneous practice" and said Beijing would take "necessary measures", without specifying them. It came a day after the US State Department imposed sanctions on five Chinese companies connected to Linwei Ding, who founded Shanghai Zhisuan Technology. The department said he had touted his experience with Google and claimed his company could replicate the American tech giant's super intelligence infrastructure technology. The start-up incubation programme MiraclePlus, which was sanctioned along with Zhisuan, gave seed capital in exchange for an ownersh
India is expected to keep importing Russian crude at close to current levels after US President Donald Trump waived sanctions and tariffs mandated by a new law on major buyers of Russian oil, analysts said. Trump issued an executive order late on Friday waiving the "sanctions, restrictions, and duties" under the Lindsey O. Graham Sanctioning Russia and Iran Act, a day before a 30-day deadline for enforcement expired. He signed the law on September 18. The law authorised tariffs of up to 100 per cent on goods from the five largest importers of Russian crude and gas, and sanctions on Russia's shadow fleet of tankers. The waiver is not specific to India and could also benefit China. The order lets the administration reconsider it later. India is the largest importer of Russian seaborne crude, averaging 1.8 million barrels per day this year, ahead of China at 1.2 million, ship tracking data showed. Italy, Turkey and the Netherlands completed the top five. India took about 1.82 million
US President Donald Trump's waiver from sanctions, restrictions and tariffs under the Sanctioning Russia and Iran Act (SRIA) gives India temporary relief but offers no lasting certainty, and New Delhi should safeguard its energy security and buy oil on commercial terms, think tank GTRI said on Saturday. It said that the move gives India relief from threatened additional duties of up to 100 per cent linked to Russian oil purchases. "But the relief is reversible. Washington can restore the tariffs anytime, leaving India and other buyers uncertain about future US action," the Global Trade Research Initiative (GTRI) said. It also said SRIA remains a law, leaving Washington free to revive the tariff threat to extract concessions in bilateral trade talks. The think tank added that Russia's share of Indian oil imports fell from 51 per cent in July to 44 per cent in August as India bought more from the US, despite higher prices, and from the UAE. "For India, the waiver buys time but offer
Principal Secretary to the prime minister, P K Mishra, on Saturday said export restrictions, sanctions and tariffs become instruments of economic policy and they are sometimes even weaponised. The top government functionary also said that wars disrupt energy and food markets while shipping routes and geographical choke points become sources of economic vulnerability. Addressing the Kautilya Economic Conclave on the subject 'A World Priced for Risk', he said India is a major energy importer, and any prolonged disruption to an important maritime route can affect the economy adversely. India's response, therefore, has combined several layers of protection. "For energy security, the disruption around the Strait of Hormuz has been a particularly clear reminder of how geography can translate into economic risk," he said. Without mentioning any country, the top official said export restrictions, sanctions and tariffs become instruments of economic policy, sometimes they are even ...
India and the US on Wednesday discussed bilateral relations and New Delhi's concerns regarding the Sanctioning Russia and Iran Act as External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio on the sidelines of the UN General Assembly session. Jaishankar, who arrived in New York City Sunday, is leading the Indian delegation for the 81st session of the UN General Assembly. "Good to meet @SecRubio of the US #UNHighLevelWeek. Reiterated India's interests and concerns with regard to SRIA (Sanctioning Russia and Iran Act). Also discussed the Gulf and Ukraine situations," Jaishankar posted on X after the meeting. US President Donald Trump signed into law the "Lindsey O. Graham Sanctioning Russia and Iran Act of 2026" last week, which authorises him to impose tariffs of up to 100 per cent on countries buying Russian oil and gas, including China and India. In its reaction, New Delhi said that it will take all necessary steps to protect its economic interests and ensure
The Congress on Saturday said the only way to counter a "bully" is to resist him "forcefully", after US President Donald Trump signed the Sanctioning Russia and Iran Act that seeks to impose steep levies on Moscow and its top energy buyers like China and India. AICC general secretary Jairam Ramesh said this in a post on X after Trump signed the law. "The only way to counter a bully is to resist him forcefully," he said. "On Friday, September 18, 2026, the President signed into law: H.R. 5334, the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026,' which authorises and expands statutory sanctions, tariffs, and prohibitions on Russia and extends existing sanctions on Iran," the White House said. The House of Representatives on Wednesday passed the Sanctioning Russia and Iran Act, which seeks to impose sanctions on Russia's leadership and energy sector, as well as on collaborators with Moscow's defence industry and its so-called "shadow fleet". The Act also authorises Presid
The US Senate voted overwhelmingly to approve a bill to punish Russia and key buyers of its petroleum products, such as China and India, claiming that such trade helps fuel the Ukraine war. The bill, renamed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, was approved by the Senate by an 86-11 vote. It allows President Donald Trump to impose 100 per cent tariffs on goods from countries that are top five importers of Russian oil and gas. At present China, India, Azerbaijan, Hungary and Slovakia are top five importers of oil and gas from Russia. In addition to Russia sanctions, the bill would extend till 2031 the expiration date of the Iran Sanctions Act of 1996, which penalises companies that invest in Iran's energy sector. The bipartisan bill was championed by Republican senator Lindsey Graham, who passed away on July 11, and Democrat Richard Blumenthal. After Graham's sudden death following a trip to Kyiv, leaders across the aisle moved with renewed vigour to ensu
As the conditional sanctions waiver granted by the US for the Chabahar Port project ended on April 26, the government is engaged with concerned stakeholders to address the implications of this development, the Lok Sabha was informed Friday. The written response from Minister of State for External Affairs Kirti Vardhan Singh came to a query regarding the current status of India's involvement in the development and operation of Shahid Beheshti Terminal at Chabahar Port in Iran. The query also sought details of the total investments made by India for the development of the port since May 2015 till March 2026. The Chabahar Port project was conceptualised to provide much-needed connectivity to Afghanistan for its reconstruction and economic development, as well as to boost trade and economic linkages of India with Central Asia, Singh said. An Indian government-owned company, India Ports Global Limited (IPGL), through its wholly-owned subsidiary, India Ports Global Chabahar Free Zone ...