India, Sept. 20 -- Statecraft dictates that a rising power must secure its internal economic stability before it can project power outward. India possesses three distinct pillars of leverage that Washington fails to accurately measure.

The temptation of an established hegemonic power to utilise economic coercion against an emerging pole in the international system is a recurring motif in global history. On September 18, 2026, this dynamic shifted from diplomatic posturing to legislative reality when US President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law.

This sweeping legislation grants the White House unprecedented authority to impose punitive tariffs of up to 100 per cent on the five la...