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New Delhi: The US President, Donald Trump, has approved a bipartisan sanctions bill that could impose tariffs of up to 500 percent on countries, including India, that continue to buy Russian oil.<\/p>\n
According to Kashmir Media Service, the development was announced by Republican Senator Lindsey Graham, who said the Bill — co-authored with Democratic Senator Richard Blumenthal — had been \u201cgreenlit\u201d by the President following a \u201cvery productive meeting\u201d at the White House.<\/p>\n
\u201cThis Bill will allow President Trump to punish those countries who buy cheap Russian oil fuelling Putin\u2019s war machine,\u201d Graham said in a post on X.<\/p>\n
The legislation, titled the Russia Sanctions Enforcement and Accountability Act, is expected to be tabled for a vote in the US Senate next week. It seeks to impose sweeping financial and trade penalties on countries and entities that undermine the price cap on Russian crude — a measure intended to limit Moscow\u2019s oil revenues amid the Ukraine war.<\/p>\n
According to US media reports, the Bill could grant the US administration broad authority to impose tariffs of up to 500 per cent on imports from non-compliant nations, potentially impacting trade flows with major economies that have continued energy ties with Russia.<\/p>\n
India has emerged as one of the largest buyers of Russian crude since Western sanctions were imposed on Moscow in 2022, taking advantage of discounted prices.<\/p>\n
Observers say the move signals Washington\u2019s intent to tighten economic pressure on Moscow while also testing the diplomatic balance of emerging powers such as India, which have sought to maintain neutrality in the Ukraine conflict.<\/p>\n
A few days earlier, Trump had backed remarks by Graham, who argued that the threat of tariffs had proved an effective tool in pushing countries to reduce their economic engagement with Russia amid the war.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: The US President, Donald Trump, has approved a bipartisan sanctions bill that could impose tariffs of up to 500 percent on countries, including India, that continue to buy Russian oil. According to Kashmir Media Service, the development was announced by Republican Senator Lindsey Graham, who said the Bill — co-authored with Democratic Senator …<\/p>\n","protected":false},"author":3,"featured_media":192205,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14],"tags":[5],"class_list":["post-192204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india","tag-top-story"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t