How US bill proposing 100% tariffs over Russian oil purchase could hurt India
India, China, Slovakia, Hungary and Azerbaijan will face tariffs as the bill aims to increase economic pressure on Moscow over its invasion of Ukraine.
The US Senate has approved a sweeping sanctions bill that could impose steep tariffs on countries purchasing Russian oil, including India. Sponsored by late Senator Lindsey Graham, the legislation aims to increase economic pressure on Moscow in response to its invasion of Ukraine. While Europe's allies are spared from similar measures, India, along with China, Slovakia, Hungary, and Azerbaijan, will face up to 100% tariffs on Russian fuel and other exports.
This move by the US comes as India's dependence on Russian energy has surged following the Iran-US war, causing a disruption in the Strait of Hormuz and a shortage of Gulf crude supplies. India, being the second-largest buyer of Russian crude oil after China, is now facing potential economic repercussions from the proposed tariffs.
The bill has already been introduced in the House of Representatives, where Republicans control the floor calendar, and its passage in its current form is seen as the final hurdle before it reaches President Donald Trump for signature.
Written by urgent.news from Hindustan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
