Now Reading: US Senate bill threatens 100% tariffs on India for Russian oil
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US Senate bill threatens 100% tariffs on India for Russian oil
The US Senate on Friday passed the bipartisan Lindsey Graham Sanctioning Russia and Iran Act of 2026, giving President Donald Trump authority to impose tariffs of up to 100% on goods from…
The Story in Brief
The US Senate on Friday passed the bipartisan Lindsey Graham Sanctioning Russia and Iran Act of 2026, giving President Donald Trump authority to impose tariffs of up to 100% on goods from the five largest importers of Russian oil, China, India, Slovakia, Hungary and Azerbaijan. Fund manager Harsh Gupta Madhusudan called it a 'hostile act against India' and an 'anti-India bill', noting that other European buyers of Russian energy were not targeted. The bill now goes to the House of Representatives.
Kpler analyst Sumit Ritolia said immediate disruption to oil flows to India is unlikely, but replacing Russian crude at current volumes would be difficult and could tighten global markets. India imported a record 2.8 million barrels per day of Russian crude in July 2026, accounting for 55.5% of total imports. The bill's impact will depend on how aggressively the US administration implements it, including possible waivers.
The Indian Opinion
Some in Delhi argue that India's 'strategic partnership' with the US will insulate it from such threats, but the bill's bipartisan 86-11 vote suggests otherwise. Others play the victim without acknowledging that India chose to deepen its reliance on discounted Russian oil, knowing the geopolitical risk. The real test is whether the House passes identical legislation and whether Trump actually uses the tariff power before the midterm elections. That will reveal if this is brinkmanship or a new normal.
Sources (3): businesstoday.in, hindustantimes.com, economictimes.indiatimes.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
