Commerce Secretary Rajesh Agrawal on Thursday played down proposed US legislation targeting top Russian oil buyers, saying trade talks with Washington remain on track
Commerce Secretary Rajesh Agrawal on Thursday said India and the US remain committed to advancing their bilateral trade deal, even as US legislation proposing tariffs of up to 100 per cent on the top five buyers of Russian oil and gas moves through the American legislative process.
Asked about the proposed legislation and its potential impact on India, Agrawal said the matter was part of the US’s internal legislative process and declined to comment on it.
“This is something of a legislative process of the US which is underway. I don’t think we should comment on that. That’s their internal process,” ANI quoted Agrawal as saying.
He, however, stressed that negotiations between New Delhi and Washington remain on track and that both sides continue to work towards the agreement.
“We are engaged with the US side on the trade deal, and our contacts are regular. And both sides are committed to the deal that we have agreed. Both sides are completely committed to move ahead in that spirit,” he said.
Agrawal’s remarks came days after the US Senate passed a Russia sanctions bill that could give President Donald Trump the authority to impose tariffs of up to 100 per cent on countries among the five largest purchasers of Russian oil and gas.
The legislation still needs to be considered by the US House of Representatives before it can proceed further through the legislative process.
India-US trade talks continue
India and the US have been negotiating a mutually beneficial Bilateral Trade Agreement (BTA), with both sides working to resolve key differences and expand market access.
During US Trade Representative Ambassador Jamieson Greer’s June 22-24 visit to New Delhi, he and Commerce and Industry Minister Piyush Goyal reviewed several key elements of the proposed agreement.
The discussions covered enhanced market access, digital trade, supply chain resilience, reduction of non-tariff barriers and cooperation in strategic sectors.
The two sides said substantial progress had been made by their negotiating teams and reiterated their commitment to an agreement that is balanced, commercially meaningful and provides tangible benefits to businesses, farmers, workers and consumers in both countries.
In February, India and the US announced a framework for an interim agreement on reciprocal and mutually beneficial trade while reaffirming their commitment to broader BTA negotiations.
US Presidential Counsellor Peter Navarro also said earlier this week that Trump and Prime Minister Narendra Modi have a “very good working relationship” and would resolve issues linked to tariffs related to Russian oil.
With inputs from agencies
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