A bipartisan group of US senators has introduced a White House-backed sanctions bill that could impose tariffs of up to 100% on India for purchasing Russian oil.
The proposed legislation aims to curb Russia’s energy revenues and increase economic pressure on Moscow over the war in Ukraine. According to reports, if passed before August, the bill could have significant implications for US-India trade relations, the global energy market, and international diplomacy.
Explaining the proposal, US Senator Richard Blumenthal said the legislation would target only the five largest buyers of Russian oil. Under the bill, those countries could face tariffs of up to 100% on certain exports to the United States.
The proposal is part of Washington’s broader efforts to discourage countries from continuing large-scale purchases of Russian energy while the conflict in Ukraine continues.
He further said that the proposed legislation includes an exemption for buyers of Russian natural gas. Countries that purchase less than 15% of Russia’s total natural gas exports and are taking significant steps to reduce their imports would qualify for the exemption.
For the bill to become law, it must be approved by both chambers of the US Congress and signed by the President. If enacted, it could further complicate trade relations between the United States and countries that continue to purchase Russian energy.
Also Read, India’s nuclear security under scrutiny after data breach
Earlier, the nuclear security of India had become a matter of concern once again following a ransomware attack, in which thousands of files associated with the country’s biggest nuclear power project.
According to the cybercriminal group World Leaks, it has leaked over 19,000 documents related to the Kudankulam Nuclear Power Plant on the dark web.
