Trump Approves Bill: 500% Tariffs Loom for India, China Over Russian Oil
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Moneycontrol•08-01-2026, 13:44
Trump Approves Bill: 500% Tariffs Loom for India, China Over Russian Oil
- •Donald Trump approved a bill proposing up to 500% tariffs on countries trading with Russia, especially for petroleum products.
- •The 'Sanctioning Russia Act of 2025' aims to punish nations buying "cheap Russian oil," directly impacting India and China.
- •The bill mandates visa/property sanctions and 500% tariffs on imports to the US from countries dealing in Russian uranium/petroleum.
- •India, a major buyer of discounted Russian crude post-2022, has faced US backlash and previously increased tariffs.
- •India has diversified energy sources, reducing Russian oil imports, while China remains a significant buyer potentially affected.
Why It Matters: US bill threatens 500% tariffs on nations buying Russian oil, straining US ties with India and China.
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