Now Reading: US Senate clears 100% tariff bill targeting Indian Russian oil buys
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US Senate clears 100% tariff bill targeting Indian Russian oil buys
US Senate clears 100% tariff bill targeting Indian Russian oil buys
The United States Senate on Friday approved a bill authorising tariffs of up to 100% on countries buying Russian oil and gas, with India named as one of five target economies by…
The Story in Brief
The United States Senate on Friday approved a bill authorising tariffs of up to 100% on countries buying Russian oil and gas, with India named as one of five target economies by the bill's sponsors. The measure, known as the Lindsey O Graham Sanctioning Russia and Iran Act 2026, passed 86-11 and now moves to the House of Representatives. It leaves the actual tariff rate to the US Trade Representative and includes a presidential waiver that must be recertified every 180 days.
The bill targets China, India, Slovakia, Hungary and Azerbaijan. European allies that also buy Russian energy are not named. India has previously called such unilateral tariffs unfair and maintains its energy purchases are driven by national security needs. The vote comes as India and the US work on a trade deal, giving Washington another potential negotiating lever.
The Indian Opinion
The bill looks tough but leaves Trump room to waive or reduce the rate. Indian negotiators must watch whether the USTR sets the levy near 100% or much lower. The real test is the trade deal now under discussion: will New Delhi win an exemption similar to the waiver Washington once gave itself during the Hormuz crisis?
Source: hindustantimes.com
This story was synthesised by AI from the source linked above.
