US sanctions bill makes India-US trade deal more critical, may push up import bill: Economist

Synopsis Proposed US sanctions legislation makes India’s trade deal with the United States more critical. Any disruption to crude supplies could raise India’s import bill significantly. This situation may pressure the Indian rupee and impact the current account deficit. India will need to assess crude imports depending on ongoing US negotiations. The outcome of these talks will determine India’s future energy import strategies. New Delhi: The proposed US sanctions legislation targeting buyers of Russian crude makes it more critical for India to negotiate a trade deal with the United States, while any disruption to crude supplies could raise India’s import…