US Sanctions

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 ...

US President urges lawmakers to expand the Russia sanctions legislation to include broad tariff powers against Iran as the measure heads to the House

A bipartisan group of US Senators on Tuesday agreed to fast-track the bill that would allow President Donald Trump to impose sanctions on major purchasers of oil from Russia as well as Iran, a move that would affect countries such as China and India. The provisions of the Russia sanctions bill, originally piloted by the late Republican Senator Lindsey Graham, will now also extend to restrict funding for Iran's energy and weapons sector. "We are proud to announce an agreement on legislation to stop purchasers of Russian oil and gas from fueling Putin's war machine and to continue restricting the Iranian regime's ability to support terrorism and build its nuclear programme," a group of senators from both the Democratic and Republican parties said here. An earlier version of the bill focused only on Russia. Iran has been added to the legislation on the suggestion made by Trump. The announcement was made by Democratic senators Jeanne Shaheen, Richard Blumenthal, and Republicans Darline

A bill seeking to impose 100 per cent tariffs on five countries, including India and China, for buying Russian oil, while exempting European nations purchasing gas from Moscow, was introduced in the US Senate with the support of over 60 lawmakers. The bill, introduced on Thursday, was conceived by Democrat Senator Richard Blumenthal and late Republican Senator Lindsey Graham. It is designed to deprive Russian President Vladimir Putin of revenue used to finance the war against Ukraine by imposing mandatory sanctions on Russia's political leadership, financial institutions, energy sector, and sanctions evasion networks. Blumenthal had said on Tuesday that the proposed legislation was aimed at imposing 100 per cent tariffs on five major purchasers of Russian oil -- China, India, Slovakia, Hungary and Azerbaijan. The text of the bill introduced in the Senate on Thursday imposes tariffs on imports from countries that are the world's top five purchasers of Russian crude oil or natural ga

The US cancelled a temporary waiver allowing Iranian oil sales after attacks in the Strait of Hormuz, raising concerns over global oil supplies

The ministry said the decision, announced less than 20 days after the signing of the agreement, reflected what it described as Washington's 'malicious intentions, instability, and unreliability'

The US has de-listed four Indian companies from its sanctions list, which were accused of supplying advanced technology and equipment for Russia's military-industrial base. The companies have been deleted from the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals and Blocked Persons (SDN) List. The four companies include Hyderabad-based RRG Engineering Technologies Private Limited and Lokesh Machines Limited, Ahmedabad-based Galaxy Bearings and New Delhi-based Shaurya Aeronautics Private Limited, according to details shared by the US Department of the Treasury on Tuesday. The US had sanctioned Galaxy Bearings Ltd in October 2024, accusing it of exporting dozens of high-priority dual-use equipment, including roller bearings and roller assemblies, to Russian entities. Shaurya Aeronautics Private Ltd was sanctioned for allegedly sending shipments of radar apparatus, radio navigational aid apparatus, radio remote control apparatus and electrical apparatus to ...

The US imposed sanctions on eight persons and entities, including an Indian national associated with an explosives manufacturing firm, for allegedly fuelling the civil war in Sudan. The US Treasury Department's Office of Foreign Assets Control (OFAC) on Friday said the targeted networks enabled both the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) to expand and intensify civil war in the African nation. Among the sanctioned individuals is Alok Choudhari of Raipur, the Chief Executive Officer of SBL Energy Limited, also known as Amin Explosive Private Limited, which allegedly supplied over 200 shipments of explosives and explosive-related materials to a company that maintained the SAF's arsenal. The Treasury Department also imposed sanctions on SBL Energy Limited and other firms based in Sudan and Egypt. "These networks supply weapons, explosives, and foreign fighters to both the Sudanese Armed Forces and the Rapid Support Forces. Their support has prolonged a ...

Sellers including middlemen and representatives from the National Iranian Oil Co. made contact with refiners in India, Japan, South Korea and elsewhere even before the license was officially granted

Two Democratic Senators have urged President Donald Trump against granting any further exemption from US sanctions on the purchase of Russian oil, contending that there is no rationale for such a move, as the war with Iran is now over. In a statement here on Tuesday, Senators Jeanne Shaheen and Elizabeth Warren said the waiver from sanctions has only helped Russia finance its "illegal war" with Ukraine. In March, the US granted a sanctions waiver to India for the purchase of Russian oil in a bid to stabilise global oil markets as the war with Iran, which started on February 28, led to a sharp increase in crude prices. The sanctions waiver was later extended to other countries. The one-month exemption has been extended twice and expires on June 17. "Extending this license yet again would give Vladimir Putin another opportunity to reap windfall financial gains while he continues his brutal war against Ukraine," the two senators said. They said an extension would also clearly contrad

The French Navy, with support from the United Kingdom, has intercepted an oil tanker under international sanctions that was travelling from Russia, the latest effort by nations that support Ukraine to target Russian oil exports helping to finance President Vladimir Putin's war. French President Emmanuel Macron announced the interception in a post Monday on X, saying the Tagor was boarded on Sunday in the Atlantic. The post included a video showing a person rappelling from a helicopter onto a ship. "It is unacceptable that boats skirt international sanctions, violate the law of the sea and finance the war that Russia has been waging for more than 4 years against Ukraine," Macron wrote. "These ships, that don't respect the most elementary rules of maritime navigation, are also a threat to the environment and everyone's security." Oil revenue is a key part of Russia's economy, allowing Putin to pour money into the war effort against Ukraine without worsening inflation for everyday peo

The EU is weighing a freeze on its Russian oil price cap as the West Asia conflict drives crude prices sharply higher ahead of a July review

Fresh US waiver terms may curb Russian oil supplies to India as sanctioned cargo availability shrinks and refiners face mounting geopolitical uncertainty

he US has extended sanctions waiver on Russian oil purchases till June 17, easing pressure on Indian refiners reliant on discounted crude imports

Treasury Secretary Scott Bessent says 30-day extension will help stabilise crude markets and support countries affected by Gulf supply disruptions

Sujata Sharma, Joint Secretary in the Petroleum Ministry, said India has been buying Russian oil irrespective of US sanctions waivers

In May, flows are expected to come in at close to 1.9 million barrels a day, close to peak levels - though that still includes a period under the US permit that was allowed to expire over the weekend

The stance highlights the fine balance the world's third-biggest oil importer and consumer is seeking ‌to strike between securing energy supplies and avoiding LNG cargoes under sanctions

US Treasury Department accused the IRGC of using the revenue to direct it towards weapons development, backing terrorist proxies and funding security forces