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2w ago

Senate’s 500% Tariff Bill on Russian Oil Buyers Advances as India Flags Security Risks

The measure’s presidential waiver secures White House discretion as New Delhi formally alerts lawmakers to its energy-security priorities ahead of vital US–India trade talks

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Indian Minister of External Affairs Subrahmanyam Jaishankar responds to US tariffs threat over Russian oil.
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Overview

  • The bipartisan Sanctioning Russia Act would slap a 500% tariff on oil and energy imports from countries that keep buying Russian products without helping broker Ukraine peace talks.
  • With 84 Senate co-sponsors and President Trump’s backing, the bill includes a waiver clause to let the president suspend duties at his discretion.
  • External Affairs Minister S. Jaishankar confirmed that India has officially conveyed its energy-security concerns to Senator Lindsey Graham and will evaluate the fallout if the legislation moves forward.
  • Primary targets of the tariffs are nations like India and China, which together buy about 70% of Russia’s oil exports and have become key markets for discounted Russian crude.
  • Kremlin spokesperson Dmitry Peskov denounced the proposal as Russophobic and questioned whether punitive tariffs on Russia’s trading partners would advance a peace settlement in Ukraine.