US House Passes Bill Enabling Up to 100% Tariffs on Russian Oil Importers
The United States House of Representatives has passed a new sanctions legislation empowering the US President to impose tariffs of up to 100 percent on major buyers of Russian oil and gas, placing countries such as India and China directly in the line of fire. Cleared by a vote of 262 to 159, the bill targets Russia's energy sector, leadership, and shadow fleet, while authorizing steep tariffs on the five largest importers of Russian energy. The legislation, which previously cleared the Senate, now awaits presidential signature. In response, India stated it is closely monitoring developments and affirmed its commitment to securing energy for its 1.4 billion citizens through diversified sources. New Delhi flagged the potential impact on bilateral relations and global energy markets, maintaining that it will take all necessary measures to protect national economic interests. Meanwhile, domestic stock markets showed resilience as the benchmark index gained in trade following the announcement.
