Trump Signs Sanctions Law Targeting Russian Oil Buyers; India And China In Focus
United States President Donald Trump has signed into law a new sanctions measure targeting Russia and Iran, which allows the imposition of tariffs of up to 100 per cent on the top five buyers of Russian oil and gas. While the legislation does not explicitly name India and China, both countries remain among the largest purchasers of Russian energy. The law grants the US president full authority after 30 days to issue decrees determining tariff scope, exemptions, or product-specific duties. The development introduces a new variable amid ongoing bilateral trade negotiations between India and the United States, where discussions around a potential trade deal are reported to be near completion. The law is also viewed as an instrument to increase pressure regarding the Russia-Ukraine conflict.
