The story so far
US Russia Sanctions Tariffs
Tracked across 9 sources · Updated 3h ago
The US Senate advances a Russia sanctions bill allowing up to 100% tariffs on countries buying Russian oil, including India. India says it is closely monitoring, with minister Goyal noting trade deal readiness hinges on tariff competitiveness. The bill faces opposition in the House.
How it unfolded
21h ago
India says energy needs paramount; bill faces House opposition
2d ago
Trump comments on sanctions bill; Goyal calls tariff threat speculation
3d ago
US Senate advances Russia sanctions bill with tariff threat on India
What happened earlier
Latest updates
Latest
Full story →Piyush Goyal Says India-US Trade Deal Ready Once Competitive Tariff Edge Is Restored; Calls Proposed 100 Per Cent US Tariff 'Speculation'
Commerce and Industry Minister Piyush Goyal dismissed reports of a proposed 100 per cent US tariff on India for importing Russian crude oil as 'speculation'.
Goyal said the first phase of the India-US Bilateral Trade Agreement is ready for implementation once the tariff framework gives India a competitive edge.
The trade agreement was finalized on the understanding that India would receive favourable market access compared to competitors in its neighbourhood and ASEAN region.
A Russia sanctions bill advancing in the US Senate could authorize sweeping tariffs on nations continuing to buy Russian energy.
India is actively participating in ongoing US Section 301 investigations and remains engaged with the US administration.
Earlier · 2d ago
Full story →India faces potential US tariffs over Russian oil purchases
India has increased Russian crude oil purchases after US sanctions waiver lapsed
US Senate advances Russia Sanctions Bill threatening 100% tariffs
India's continued Russian oil imports may trigger trade retaliation
The development could impact India's energy security and US relations
Earlier · 2d ago
Full story →India, US trade pact to come into operation once India gets comparative advantage: Goyal
India and US trade pact will operate only when India gains comparative advantage, said Commerce Minister Piyush Goyal.
Goyal stated India will continue growing exports and leveraging the US market opportunity as long as it has comparable duties.
The statement reflects India's cautious approach to trade liberalization with the US.
Earlier · 2d ago
Full story →India-US trade deal ready once competitive edge is restored, says Goyal as US Senate advances 100% tariff bill
Commerce Minister Piyush Goyal said the first tranche of the India-US Bilateral Trade Agreement is ready for implementation but awaits US action to restore India's competitive edge.
The US Senate advanced a bipartisan sanctions bill that could allow President Donald Trump to impose tariffs of up to 100% on imports from countries buying Russian oil and gas, including India.
India is a major purchaser of Russian oil, making it a potential target of the proposed 100% tariff if the bill becomes law.
Goyal stressed that the BTA will only take effect once the US ensures India receives a competitive advantage over other exporting nations.
The development highlights the tension between advancing trade ties and geopolitical sanctions pressures involving Russia.
Earlier · 2d ago
Full story →India, 4 other nations face 100% tariffs as US Senate advances Russia sanctions bill
The US Senate voted 86-12 to advance the “Lindsey O. Graham Sanctioning Russia Act of 2026”, authorizing tariffs of up to 100% on India and four other countries for purchasing Russian energy.
The bill is expected to pass a final Senate vote later this week after clearing the procedural hurdle.
Senator Richard Blumenthal said the bill targets China and India as the main purchasers of Russian oil and gas, which fund Russia's war machine.
Indian imports of Russian crude rose to record levels in June 2026, reaching €4.5 billion, after a prior 25% tariff penalty was lifted in February.
The legislation also renews a set of Iran sanctions due to expire at the end of the year.
