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US eases 500% tariff threat on Russian oil
in5points
The US updated its tariff policy, removing the 500% tariff threat on Russian oil.
Countries importing less than 15% of Russia's natural gas exports and reducing imports may be exempted.
Exemptions could apply to India, China, Japan, France, Hungary, and Belgium.
The original tariff was proposed as a response to Russia's invasion of Ukraine.
The change eases pressure on countries reliant on Russian energy.
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