Trump Tariff: Tariffs, tariffs, more tariffs – The Donald Trump administration’s favorite economic weapon is back in focus, as the US passed a new bill that allows its president to impose tariffs of up to 100% on countries that are largely buying crude oil from Russia. This means that India is also in the list, and so is China.
The US House of Representatives on Wednesday approved the “Lindsey O. Graham Sanctioning Russia and Iran Act of 2026”. This law will now go to President Donald Trump for his signature. So, will Donald Trump impose 100% tariff on India buying crude oil from Russia? What impact will this have on India’s exports to the US and its energy security situation amid the Middle East conflict? How important is Russian crude oil for India and will it stop buying it if new tariffs are imposed from the US? What is the Russia Sanctions Bill about? Initially introduced one and a half years ago, this bill proposed to impose tariffs of up to 500% on large buyers of Russian crude oil. But, later it was reduced to 100%. The House approved the bill by 159 votes against 262 votes. The main objective of the bill is to target Russia’s energy and defense sectors as well as its “shadow fleet” of tankers, which are used to evade existing sanctions.
Its purpose is to block Russia’s access to funds that the US claims help Moscow’s fight in Ukraine. Wow system! The house was destroyed before our eyes, the family members kept crying; Bulldozer did not stop, videos of Meerut will make you emotional Russia Sanctions Bill: What does it mean for India? This new law gives the US President the power to impose up to 100% tariffs on countries like China and India, which are major buyers of Russian crude oil. Currently, the list of top five importers of Russian energy probably includes China, India, Slovakia, Hungary and Azerbaijan. It also extends the ban on Iran. The Graham Act passed the Senate last month by a vote of 86-11, with strong support from both parties. So what does this bill mean for India? Let us first understand what is India’s dependence on Russian crude. No Insurance- No Fuel, fuel will not be available at petrol pumps without insurance, IRDAI becomes strict, know what will be the rules.