100% tariffs for India? US Senate advances key Russian sanctions bill

100% tariffs for India? US Senate advances key Russian sanctions bill


100% tariffs for India? US Senate advances key Russian sanctions bill
India could face 100% if Russia Sanctions Bill becomes a law

The US Senate on Tuesday overwhelmingly advanced a bipartisan bill that would give President Donald Trump sweeping powers to impose new sanctions on Russia and penalise major buyers of its energy exports, including India and China.The legislation would allow the president to impose a 500 per cent tariff on Russian goods imported into the US and an additional 100 per cent tariff on the world’s five largest buyers of Russian crude oil and natural gas, as well as the top five countries found to be helping Moscow evade energy sanctions. India and China are among Russia’s biggest energy customers.The Senate voted 86-12 to clear the first procedural hurdle for the bill, which was championed by the late Republican Senator Lindsey Graham. The measure could pass the Senate later this week, although it is unlikely to become law before September because the House has already begun its August recess.The bill also extends the Iran Sanctions Act of 1996 through 2031, preserving US authority to impose secondary sanctions on non-US companies doing business with Iran. It includes broader measures targeting Russian oil and gas exports while allowing the president to waive sanctions if deemed to be in the US national interest.Read also – Reverse oil flow: India supplies gasoline to Russia – why it mattersPresident Donald Trump has signalled support for the legislation. Earlier on Tuesday, he met Ukrainian President Volodymyr Zelenskyy at the White House before Zelenskyy travelled to Capitol Hill, where he urged lawmakers to maintain sanctions pressure on Moscow.“Sanctions pressure on Russia is very important,” Zelenskyy said. “It’s not only about your money. It’s also a big signal to Europe, a big signal to Ukraine.”Senate Democratic leader Chuck Schumer said the bill would send a strong message to Russian President Vladimir Putin, while some Democrats warned that the measure could also significantly expand Trump’s tariff powers.If enacted, the legislation would mark one of the strongest US efforts yet to curb Russia’s energy revenues and could have significant implications for India, which has sharply increased purchases of discounted Russian crude since the Ukraine war began.



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