India may face 500% US tariff over purchase of Russian oil

“This Bill will allow President Trump to punish those countries who buy cheap Russian oil fuelling (Russian President Vladimir) Putin’s war machine.

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This Bill would give President Trump tremendous leverage against countries like China, India and Brazil to incentivise them to stop buying the cheap Russian oil that provides the financing for Putin’s bloodbath against Ukraine,” Graham said in a post on X.

According to the Bill, the President must increase the rate of duty on all goods and services imported into the US from countries “that knowingly engage in the exchange of Russian-origin uranium and petroleum products to at least 500 per cent relative to the value of such goods and services”.

The US has imposed a steep 50 per cent tariff on nearly 55 per cent of India’s merchandise exports since August. That includes a 25 per cent tariff directly linked to New Delhi’s purchase of Russian oil.