US Senators unveil updated sanctions bill targeting buyers of Russian oil with 100% tariffs
US Senators unveiled an updated sanctions bill targeting buyers of Russian oil with 100% tariffs.
The 100% tariff rate is reduced from the 500% originally proposed by the late Senator Lindsey Graham.
The bill targets entities that purchase Russian oil, imposing steep tariffs as a penalty.
The updated sanctions bill follows the US Supreme Court striking down Trump’s reciprocal tariffs.
A previous 25% tariff on India for buying Russian oil was withdrawn earlier.
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