India Studying Details of US Tariffs on Russian Oil Buyers: Piyush Goyal
The bill would let President Donald Trump impose tariffs of up to 100% on major buyers of Russian energy, deepening pressure on Moscow.
- On Friday, September 18, 2026, President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law, authorizing his administration to impose up to 100% tariffs on the five largest buyers of Russian oil and gas.
- Following an 86-11 Senate approval in August, the House voted 262-159 on September 16 to pass the measure, aiming to increase economic pressure on Moscow and Tehran by targeting energy sectors and the so-called "shadow fleet."
- House Minority Leader Hakeem Jeffries and other Democrats opposed the measure, arguing it grants President Trump "unfettered authority" to impose tariffs without guardrails. Gregory Meeks unsuccessfully proposed amendments to remove secondary tariff provisions.
- Major energy importers like India face potential tariff risks, though the administration has not yet named specific targets. India's Ministry of External Affairs stated the country "remains firmly committed to ensuring energy security for its 1.4 billion people."
- The law takes effect within 30 days, leaving importers to navigate compliance challenges. Analysts note replacing Russian energy remains "extremely challenging," though some nations are shifting toward alternative suppliers like Saudi Arabia and Iraq.
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Indian refineries could see their share of Russian oil imports nearly halved as a result of the “hell of sanctions” law signed by US President Donald Trump last week, sources familiar with the matter told Bloomberg.
Indian refineries are preparing to scale back their purchases of Russian crude oil, Bloomberg reports. India fears 100 percent US tariffs now that US President Donald Trump signed a bill on September 18 allowing 100 percent tariffs on countries that import Russian energy when Russian supplies exceed 15 percent of their energy imports.
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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