US Senate Bill Proposes 100% Tariffs On India And 4 Others Buying Russian Oil

New Delhi, Jul 18 (KNN) A new bipartisan bill introduced in the US Senate proposes imposing steep tariffs on countries, including India and China, that continue to purchase Russian oil, as part of efforts to curb funding for Russia’s war in Ukraine.

Tariffs Target Major Buyers of Russian Energy

The legislation, backed by more than 60 lawmakers, seeks to impose 100 per cent tariffs on imports from countries identified as the top buyers of Russian crude oil or natural gas, or those facilitating sanctions evasion. The countries named include India, China, Slovakia, Hungary, and Azerbaijan, PTI reported.

The bill aims to reduce revenue flows to Russia by targeting its key energy trade partners and tightening pressure on its financial and political networks.

Exemptions for Select European Nations

The proposal includes exemptions for certain European countries that continue to import limited volumes of Russian natural gas. Nations whose imports account for less than 15 per cent of Russia’s total gas exports—and are actively reducing dependence—will not face tariffs.

Periodic Review Mechanism

Under the bill, the US Trade Representative would reassess the list of top buyers every 180 days. Tariff rates could be adjusted depending on changes in import patterns and compliance with sanctions.

Limited Sectoral Exclusions

The legislation exempts US imports of Russian uranium for nuclear energy and medical use. It also excludes ongoing cooperation between the US and Russia in nuclear and space sectors.

Broader Trade Context

If passed, it would mark a significant shift in US policy, representing the first instance of tariffs being explicitly used as a geopolitical tool to penalise countries indirectly supporting a war effort.

The move comes amid broader US trade actions, including a recent proposal to impose tariffs on multiple countries, including India, over concerns related to forced labour-linked imports.

Overall, the bill signals a more aggressive approach by the US to influence global trade flows and increase economic pressure on Russia and its energy partners.

(KNN Bureau)