US Senate passes bill for 100% tariff on top 5 nations buying Russian oil
This story was originally published at 09:54 IST on 8 August 2026
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MUMBAI – The US Senate Friday passed a bill that imposes tariffs of up to 100% on the five largest Russian energy importing countries, in a move likely aimed at hitting Moscow's war financing in Ukraine. The legislation, which was introduced in the Senate in July, is called the "Lindsey O Graham Sanctioning Russia and Iran Act of 2026".
With 100% tariff, the bill directly impacts India, China, and three other countries over their purchases of Russian oil and gas. Since the outbreak of the Russia-Ukraine war in 2022, India has emerged as one of the world's largest buyers of discounted Russian crude. Russian oil now accounts for a substantial share of India's crude imports.
In July, a senior Indian government official had said the trade deal negotiations between India and the US will address the bill-related issues. "The discussions on the US' bipartisan bill have not come up in India-US deal negotiations yet," the official added. End
Reported by Pratiksha
Edited by Akul Nishant Akhoury
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