Can Trump-Modi ‘Good Working Ties' Fix Russian Oil Tariff Issue? Senior US Official Drops Big Hint
The bill targets the five biggest buyers of Russian energy and could tighten global oil markets if the White House enforces the tariffs.
- The Senate passed the bipartisan Graham Sanctioning Russia Act last week, granting President Donald Trump authority to impose tariffs of up to 100 percent on major buyers of Russian oil and gas.
- India's dependence on Russian crude has surged since the invasion of Ukraine, with refiners importing a record 2.8 million barrels per day in July 2026, comprising about 55.5 percent of total imports.
- The bill targets the five biggest purchasers of Russian energy but must still clear the House of Representatives and faces further legislative and administrative hurdles before taking effect.
- Kpler analyst Sumit Ritolia expects little immediate alteration to oil flows to India and China, though significant restrictions on Russian crude could tighten global balances rather than simply redirect trade.
- Indian refiners utilize Russian crude as a strategic hedge against disruptions along traditional Middle Eastern supply routes, a reliance that intensified during recent periods of heightened supply risks, Ritolia said.
14 Articles
14 Articles
Can Trump-Modi ‘good working ties' fix Russian oil tariff issue? Senior US official drops big hint
The US Senate last week passed a bill to levy tariffs of up to 100 percent on the top buyers of Russian oil and gas. The Lindsey O. Graham bill authorises secondary tariffs of up to 100 percent on countries that continue to buy Russian oil and gas.
A bill authorizing Donald Trump to impose tariffs of up to 100% on major buyers of Russian oil has been passed in the Senate. Experts argue this is anti-India.
Senate Passes Bill That Could Hit India With Tariffs Up To 100%
President Donald Trump and Indian Prime Minister Narendra Modi deliver joint statements in New Delhi on February 25, 2020. | Image by YashSD/Shutterstock.The United States has not imposed a new blanket 100% tariff on Indian goods. The U.S. Senate passed a Russia sanctions bill Friday that could subject India to additional tariffs as high as 100% if the country continues purchasing Russian oil and meets the legislation’s other requirements. The m…
New US Tariffs On India? US Senate Passes Russia Sanctions Bill, New Delhi Could Face 100% Tariffs
India could soon face the threat of 100% US tariffs under a sweeping Russia sanctions bill passed by the US Senate. The legislation allows the US President to impose punitive tariffs on the world's five biggest buyers of Russian oil and natural gas, a list that currently includes India and China. The bill is aimed at increasing pressure on Moscow by targeting countries that continue purchasing Russian energy despite the ongoing Ukraine war.
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