in5points
PoliticsHindustan Times

New US bill proposes up to 100% tariffs on India for Russian oil purchase

in5points
  1. A bipartisan group of US Senators announced a bill proposing tariffs up to 100% on exports from India, China, Slovakia, Hungary, and Azerbaijan for purchasing Russian oil.

  2. The bill has been backed by the White House and could be passed before August.

  3. The tariffs aim to cripple Russia’s revenues from energy exports and force an end to the Ukraine war.

  4. Senator Richard Blumenthal said the tariffs are targeted and narrowly limited to the five major purchasers of Russian oil.

  5. The US Trade Representative would determine the exact tariff rate at a level to discourage purchases from countries like China and India.

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Shobhana Bhartia

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Shobhana Bhartia (Birla family)

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