Now Reading: US Senate advances bill for 100% tariff on India over Russian oil imports
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US Senate advances bill for 100% tariff on India over Russian oil imports
US Senate advances bill for 100% tariff on India over Russian oil imports
The U.S. Senate voted 86-12 on Tuesday to fast-track the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026', which could impose tariffs of up to 100% on nations importing Russian…
The Story in Brief
The U.S. Senate voted 86-12 on Tuesday to fast-track the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026', which could impose tariffs of up to 100% on nations importing Russian oil. India, whose Russian oil imports rose to over 50% in June 2026, is a primary target. A previous version had proposed 500% tariffs, later reduced.
The bipartisan bill, aimed at depriving Moscow of revenue for its Ukraine war, would target the top five Russian oil buyers. China accounts for 47-50% of Russian crude exports, followed by India at 36-38%. The legislation includes a carve-out for countries importing less than 15% of Russian natural gas. Ajay Srivastava of the Global Trade Research Initiative warned that Washington is expanding its economic toolkit to include sanctions, tariffs, and sector-specific duties.
The Indian Opinion
The predictable hand-wringing over 'India being targeted' misses the real story. New Delhi's crude imports from Moscow have crossed 50%, making it the second-largest buyer after China. This is not about punishing a friend; it is about enforcing secondary sanctions on a wartime economy. The real question is whether India can diversify fast enough to avoid becoming collateral damage in a great-power confrontation that shows no signs of de-escalation.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
