US senators opposed tariffs during debate on a Russia sanctions bill. It affects India as the country relies more on Russian energy amid the West Asia conflict
The US Senate advanced a Russia sanctions bill last month. If enacted in its current form, the bill could significantly impact countries that continue importing Russian energy. (Bloomberg)
During the debate, Senator Paul described the tariff proposal as America “shooting itself in the foot,” arguing that imposing such steep duties would destabilise the US relationship with India. Senator Wyden also voiced opposition to the tariff provisions.
The remarks came as the US Senate advanced a Russia sanctions bill that could expose India and four other countries to 100% tariffs over their continued trade with Russia. The sweeping legislation, authored by the late Senator Lindsey Graham, was moved forward on July 28 during Ukrainian President Volodymyr Zelensky’s visit to the US Capitol.
If enacted in its current form, the bill could significantly impact countries that continue importing Russian energy and other goods, with India among those potentially affected.
What is the bill all about?
The bill aims to increase economic pressure on Moscow over its invasion of Ukraine. After China, India is the second-largest buyer of Russian crude oil.
The sanctions bill comes at a time when India’s dependence on Russian energy has increased due to the West Asia war, which has disrupted shipping through the Strait of Hormuz. The Iran-US war has choked off Gulf crude supplies that previously accounted for roughly 40% of India’s oil imports, forcing refiners to turn to Russian crude as the main alternative source.
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