A bipartisan group of US senators has introduced a revised sanctions bill that could impose tariffs of up to 100% on India and other major importers of Russian oil. The proposed legislation is part of a broader effort to increase economic pressure on Russia by targeting countries that continue purchasing its energy exports.
The bill, originally championed by the late Senator Lindsey Graham and co-sponsored by Democratic Senator Richard Blumenthal, represents a softened version of an earlier proposal that sought tariffs of up to 500%. Lawmakers reduced the maximum tariff to 100% in an effort to gain broader political support while still maintaining pressure on Moscow over the ongoing conflict in Ukraine.
Under the proposed legislation, the US President would have the authority to impose tariffs on the largest buyers of Russian crude oil and natural gas, including India and China. The bill also expands sanctions on Russia’s financial institutions, defence sector, energy projects and the so-called “shadow fleet” of tankers used to transport Russian oil despite Western restrictions. It includes provisions allowing the President to waive sanctions if doing so is deemed to be in the US national interest.
India has significantly increased its imports of discounted Russian crude since the Ukraine conflict began, making Russia one of its largest oil suppliers. New Delhi has consistently maintained that its energy purchases are driven by national energy security and economic considerations, while emphasising the importance of affordable fuel supplies for its growing economy.
The proposal comes at a time when India and the United States are also engaged in negotiations to deepen bilateral trade and strengthen their strategic partnership. Analysts believe any decision to impose tariffs could affect trade relations between the two countries, although the revised bill’s lower tariff cap is viewed as less disruptive than the original proposal.
The legislation has not yet become law and must still pass both houses of the US Congress before being signed by the President. Until then, the proposed tariffs remain part of a legislative process, with governments, businesses and global energy markets closely monitoring further developments.
