CPI(M) MP V Sivadasan gives notice in Rajya Sabha over US Senate bill on Russian oil imports
New Delhi, August 10
CPI MP V Sivadasan on Monday gave a notice under Rule 267 in Rajya Sabha, seeking suspension to discuss the implications of a recently passed Bill in the US Senate that imposes tariffs of up to 100 per cent on India over its import of Russian oil.
Sivadasan said the move cannot be viewed as anything other than an attempt to intimidate India and added that it cannot be allowed.
"For India, where Russian crude reportedly makes up over 40 per cent to 50 per cent of its oil supply, scaling back purchases would cause severe trade and energy supply disruptions, especially given ongoing transport constraints through the Strait of Hormuz," he said.
The CPI(M) MP said the impact would be felt by ordinary citizens through rising retail inflation and increased living costs.
"The increased import costs would eventually trickle down to local petrol and diesel pumps. Costlier transportation fuels would raise logistics expenses nationwide, driving up prices for daily necessities like groceries, food items, and essential consumer goods," Sivadasan said.
He further stated that export-dependent domestic industries such as textiles, pharmaceuticals, and manufacturing could face reduced sales, potentially leading to job slowdowns and pressure on household budgets.
On Friday, the US Senate passed a bipartisan bill that could authorise President Donald Trump to levy tariffs of up to 100% on goods from countries, including India and China, that continue importing Russian oil and gas, maintaining that such trade helps sustain Moscow's economy and fund its military operations in Ukraine.
The Senate approved the Lindsey O Graham Sanctioning Russia and Iran Act of 2026 by an overwhelming 86-11 vote. Named after the late Republican Senator Lindsey Graham, one of its principal architects, the legislation aims to escalate economic pressure on Russia and Iran while targeting nations that maintain major energy trade ties with Moscow.
— ANI
Reader Comments
Finally, a political leader speaking about the common man's burden. Rising fuel prices directly impact our monthly household budget, from grocery shopping to school fees. I appreciate Sivadasan ji for raising this in Parliament. 🙏
Our government should respond strongly to this. India is a sovereign nation and we will decide who we trade with. The US needs to understand that we are not their colony anymore. We have a strategic partnership with Russia that goes back decades.
This is a serious matter. But I also think we should look at this as an opportunity to diversify our energy sources and invest more in renewable energy. We cannot be dependent on any single country for nearly 50% of our oil needs. Self-reliance is the way forward.
As a homemaker, I can already feel the pressure of rising prices. If this continues, everything from dal to vegetables will become more expensive. Politicians should focus on solutions rather than just giving notices in Parliament. We need practical steps to protect our economy! 💔
The US Senate bill is nothing but economic bullying. They want us to stop buying cheaper oil from Russia while they themselves import from wherever they want. Let them handle their own energy crisis first! India should take a firm stand and diplomatically counter this. 🔥
S We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.