India Studying Details of US Tariffs on Russian Oil Buyers: Piyush Goyal
The bill would let Trump impose tariffs of up to 100% on major Russian energy buyers, and India says it is studying the provisions.
- On Friday, September 18, 2026, President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law, authorizing tariffs of up to 100% on major purchasers of Russian oil and gas.
- Following an 86-11 Senate vote in August, the House passed the bipartisan measure 262-159 last Wednesday to increase economic pressure on Moscow and extend existing Iran sanctions through 2031.
- India and China, as major energy importers, face potential tariffs under the new framework, though the Ministry of External Affairs stated India remains committed to ensuring energy security for its 1.4 billion people.
- Opposing the bill, House Minority Leader Hakeem Jeffries and other Democrats argued it grants President Trump unchecked authority to impose tariffs without guardrails, potentially raising costs for American consumers.
- Within 30 days, the law provides the administration a new mechanism to impose duties, though it does not automatically target specific nations, leaving the executive branch to determine qualifying countries.
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109 Articles
Indonesia to continue buying Russian oil despite ‘real risk’ of US penalties
Indonesia plans to press ahead with discounted Russian crude oil imports to secure domestic energy supplies and manage fiscal pressures, despite the risk of higher US tariffs as Washington moves to tighten economic pressure on Moscow. On Friday, US President Donald Trump signed into law an act that would give him authority to impose sanctions on Russia and slap tariffs of up to 100 per cent on the top five buyers of Russian crude oil, gas and mi…
Indian refineries can reduce crude oil purchases from Russia due to a new US sanctions bill that increases the threat of new duties. The world ' s third largest oil buyer has purchased more than half of its imports from Russia in recent months, trying to compensate for high prices and continuing disruptions in flows from the Middle East, but, according to sources involved in the negotiations, in the last few days the major processors have b…
India Warns US That New Russian Oil Tariff Law Could Damage Relations
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India Eyes Sharp Shift Away From Russian Oil Following Trump’s Sanctions Bill
Indian refiners are preparing to reduce purchases of Russian crude oil after US President Donald Trump signed a bill allowing 100% tariffs on countries importing Russian energy, according to Bloomberg on September 21.
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