Economy
US Senate Bill Proposes 100 percent Tariffs on India, China and Other Nations Over Russian Oil Imports

A bipartisan bill introduced in the US Senate proposes 100% tariffs on imports from five major buyers of Russian oil, including India, China, Slovakia, Hungary, and Azerbaijan. The legislation, backed by more than 60 lawmakers, aims to curb Russia's energy revenues used to finance its war in Ukraine. The bill exempts certain European countries that import limited amounts of Russian natural gas while taking steps to reduce their dependence. It also excludes US purchases of Russian uranium and cooperation in the nuclear and space sectors. Named the Lindsey O. Graham Sanctioning Russia Act of 2026, the proposal would require the US Trade Representative to review the list of top Russian energy buyers every 180 days. If passed, it would mark the first time the US Congress has authorised tariffs as a geopolitical tool against countries purchasing Russian energy.
Disclaimer: This image is taken from Bloomberg.



