NEW DELHI: External affairs minister S Jaishankar brought up Sanctioning Russia and Iran Act (SRIA) in a meeting with US secretary of state Marco Rubio on Wednesday.The two officials met on the sideline of United Nations General Assembly session. “Good to meet Secretary Rubio of the US. Reiterated India’s interests and concerns with regard to SRIA. Also discussed the Gulf and Ukraine situations,” said Jaishankar in a statement on X.Rubio also confirmed the meeting on X mentioning the bilateral ties. “Great to meet with Indian External Affairs Minister in New York today. Together, we are building on the US-India strategic partnership and coordinating on key regional priorities and upcoming multilateral efforts.”The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, signed by US President Donald Trump, expands Washington’s powers to impose sanctions and tariffs on Russia and countries that continue significant purchases of Russian oil and gas. A key provision gives the president authority to impose tariffs of up to 100% on goods from the five largest importers of Russian petroleum or natural gas, subject to conditions in the law.
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The Act itself, however, does not automatically impose a 100% tariff on India.India is particularly exposed because it has become one of the largest buyers of Russian crude since 2022. If Washington invokes the new powers against India, higher tariffs (up to 100%) could make Indian goods more expensive in the US market, hurting exporters across sectors and adding pressure to India-US trade ties. Meanwhile, India has defended its Russian oil purchases as necessary for securing affordable and reliable energy.