NCP (SP) asks Centre to spell out economic fallout of US tariff threat over Russian oil

• NCP (SP) seeks Centre’s assessment of US tariff risks over Russian oil.

• Party warns reduced Russian crude imports could raise fuel costs.

• Seeks plans to protect exporters, jobs and crude supplies.

The NCP (SP) on Saturday asked the Centre to make public a detailed assessment of India's economic exposure to a new US law that gives President Donald Trump the authority to impose tariffs of up to 100 per cent on countries making significant purchases of Russian energy under specified conditions.

Senior party leader and spokesperson Mahesh Tapase questioned the government's handling of the issue and said any reduction in Russian oil imports under US pressure could raise fuel costs for consumers.

Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law on 18 September. The legislation expands sanctions on Russia and authorises the US president to impose tariffs on countries that meet specified conditions linked to purchases of Russian oil or gas. India and China are among the major buyers of Russian energy.

“Once again, the Narendra Modi government's much-publicised 'personal chemistry' between the prime minister and President Trump stands exposed as hollow,” Tapase said in a statement, alleging that the government had failed to secure a durable trade understanding with Washington.

He said any move by India to reduce Russian crude purchases under US pressure could push up domestic fuel costs.

“If New Delhi is now forced to walk back these purchases under American pressure, ordinary citizens will be compelled to pay higher fuel prices. The Modi government certainly cannot keep the country in the dark,” he said.

The NCP (SP) asked the prime minister and the Union finance and external affairs ministries to clarify the potential economic impact of the US measure.

Tapase sought details of the government's “concrete, time-bound” measures to protect Indian exporters and jobs dependent on the US market from the possibility of higher tariffs.

He also sought details of any contingency plan to secure affordable alternative sources of crude oil if India were to reduce purchases from Russia. The party further demanded a sector-wise assessment of the potential impact of the US measure on India's trade and economy.

The government has said it is monitoring developments and remains committed to ensuring energy security and protecting India's trade and economic interests.