India Studying Details of US Tariffs on Russian Oil Buyers: Piyush Goyal
The law would let Washington impose duties of up to 100% on major Russian energy buyers, including India and China, officials said.
- On Friday, President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law, authorizing tariffs of up to 100% on major purchasers of Russian oil and gas based on 12-month purchase volumes.
- Following an 86-11 Senate vote in August, the House passed the bill 262-159 on Wednesday with 203 Republicans and 58 Democrats supporting it; the legislation targets Russia's leadership, energy and defense sectors and its so-called shadow fleet.
- Representative Gregory Meeks of the House Foreign Affairs Committee argued the bill grants President Trump unchecked tariff authority without guardrails, while House Minority Leader Hakeem Jeffries warned it contains "loopholes" enabling Trump to avoid sanctions on Russia.
- India and China, among the largest buyers of Russian crude, now face potential tariff exposure; India's Ministry of External Affairs stated the country remains firmly committed to ensuring energy security for its 1.4 billion people.
- Analysts warn replacing Russian supply remains extremely challenging for both nations; Dan Wang, China director at Eurasia Group, expects Beijing to defy restrictions while Indian refiners search for alternative sources amid rising domestic demand.
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113 Articles
Indian refineries could see their share of Russian oil imports nearly halved as a result of the “hell of sanctions” law signed by US President Donald Trump last week, sources familiar with the matter told Bloomberg.
Indian refineries are preparing to scale back their purchases of Russian crude oil, Bloomberg reports. India fears 100 percent US tariffs now that US President Donald Trump signed a bill on September 18 allowing 100 percent tariffs on countries that import Russian energy when Russian supplies exceed 15 percent of their energy imports.
Indian refineries can reduce crude oil purchases from Russia due to a new US sanctions bill that increases the threat of new duties. The world ' s third largest oil buyer has purchased more than half of its imports from Russia in recent months, trying to compensate for high prices and continuing disruptions in flows from the Middle East, but, according to sources involved in the negotiations, in the last few days the major processors have b…
India Warns US That New Russian Oil Tariff Law Could Damage Relations
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India Eyes Sharp Shift Away From Russian Oil Following Trump’s Sanctions Bill
Indian refiners are preparing to reduce purchases of Russian crude oil after US President Donald Trump signed a bill allowing 100% tariffs on countries importing Russian energy, according to Bloomberg on September 21.
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