America has started preparations to tighten the noose on countries buying oil from Russia. A revised bill related to sanctions on Russia has been introduced in the US Senate. It has been proposed to impose up to 100% tariff on countries purchasing oil and gas from Russia. According to the bill, 100% tariff can be imposed on India, China, Slovakia, Hungary and Azerbaijan. This bill is being brought with the support of both Republican and Democrat parties. Its purpose is to reduce Russia’s oil earnings, so that its war fighting ability can be weakened. Under this, it is also proposed to impose sanctions on Russian officials, shadow tanker fleet, central bank and government energy projects. Earlier, the initial draft of the bill proposed imposing 500% tariff, but it was later reduced to 100%. If this bill is passed, then for the first time America will impose tariffs on a country just because it is increasing its earnings by buying oil from Russia. India bought more than half of its oil from Russia last month. India bought a record 26.1 lakh barrels per day of crude oil from Russia in June 2026, which was 52.4% of the country’s total oil imports. This means that for every two barrels of oil imported into India last month, more than one barrel came from Russia. Russia continues to be India’s largest oil supplier. There was an increase of about 39% in oil imports from Russia in June as compared to May. America will give relief in tariffs to European countries. China, France, Japan, Hungary and Belgium, which buy natural gas from Russia, have also been kept under its purview. However, countries that import less than 15% of Russia’s total gas exports and are taking steps to reduce their dependence may get exemptions. Under the bill introduced in the Senate, 15 European countries have been exempted from the proposed 100% tariff. Relief has been given to these countries because they buy less than 15% natural gas from Russia and are gradually reducing their dependence on it. Democrat Senator Richard Blumenthal said the bill is not against European allies. Its target is only those countries which are still providing the most economic support to Russia’s oil business. The bill proposes to impose sanctions on Russia’s energy industry, financial institutions, defense industrial infrastructure, businessmen and even President Vladimir Putin. The anti-Russian tariff bill presented in the Senate has received support from both Republican and Democrat parties. This is called ‘bipartisan bill’ in American politics. That is, a proposal on which both the ruling party and the opposition agree. Usually, many big bills in America get stuck due to political differences. But when both parties stand together on a bill, its chances of passing through Congress increase significantly. However, the bill will still have to be approved by both the Senate and the House of Representatives to become law. After this, it will become law only after getting the signature of the President. Trump will get the power to give exemption. In the amended bill, US President Trump has also been given the right to give exemption in these restrictions or tariffs if he feels that it is in the national interest of America. This bill was introduced in April 2025 by Republican Senator Lindsey Graham and Democrat Senator Richard Blumenthal. Lindsey Graham died on July 11. Trump said that moving this bill forward was Graham’s priority and it is being moved forward in his memory. So far, 26 senators have given their support to this bill and further support is expected to increase. Earlier the tariff was imposed through notification, now why are they getting it passed by Parliament? Earlier, President Trump used to directly impose tariffs by declaring a national emergency under the International Emergency Economic Powers Act (IEEPA), 1977 and issuing a notification. But on February 20, 2026, the US Supreme Court ruled against it and said that IEEPA does not give the President the authority to impose tariffs. The court said that tariff is a kind of import duty and according to Article 1 of the US Constitution, the right to impose it rests primarily with the Congress (Parliament). For this reason, now a separate bill has been brought in Congress to impose 100% secondary tariff on countries purchasing oil from Russia, so that the President can get clear legal authority and it will be difficult to challenge this decision in the court or change it easily in future. 100% tariff will have 3 big impacts on India Indian goods will become twice as expensive: America is India’s biggest market, where India exports goods worth about Rs 6.5 lakh crore annually. Due to 100% tax, Indian goods will become twice as expensive there and sales will come to a halt. Loss 10 times bigger than savings: India saves about Rs 60,000 crore annually from Russian oil, but the loss due to losing the American market will be 10 times more than this saving. Jobs will be lost and rupee will weaken: 100% tariff will halt ₹2.1 lakh crore worth of textile, diamond and pharmaceutical exports to the US. Due to this, about 15 to 20 lakh people working in these industries may be affected. Due to decrease in exports, there will be a shortage of dollars in the country, due to which the Indian rupee may weaken against the dollar. —————————- Also read this news… UK’s whiskey, cars and beauty products will be available cheaper: Free trade agreement between India and UK comes into effect from today, know the prices of which things will change. UK’s cars, whiskey, clothes and footwear will be available cheaper in India from today. The Free Trade Agreement between India and UK has come into effect from today. That means now 99% of India’s goods will be exported to UK at zero tariff. Whereas 99% of UK goods will be imported at 3% average tariff. Read the full news here…
Source link
[ad_3]
भारत पर 100% टैरिफ लगा सकता है अमेरिका: रूसी तेल खरीदने वाले देशों पर कार्रवाई की तैयारी; संसद में बिल पेश, 5 देश निशाने पर
