US Bill Proposes Up to 100% Tariffs on Indian Oil Purchases
A new bipartisan bill in the US Senate proposes tariffs of up to 100% on oil exports from India, China, and three other countries for purchasing Russian oil. Backed by the White House, the bill aims to reduce Russia's energy revenues and influence in the Ukraine conflict. The five major purchasers targeted are India, China, Slovakia, Hungary, and Azerbaijan. This legislation is a revised version of the Sanctioning Russia Act, which had proposed tariffs as high as 500%. The US Trade Representative will determine the exact tariff rates, which could be set before August. The bill also includes sanctions against various sectors of the Russian economy. The late Senator Lindsey Graham was noted for his role in advancing this legislation.
Published 15 hours ago • 15 Jul 2026, 06:36 AM IST