Relief For India, China As US Lowers 500% Russian Oil Tariff Threat To 100%
US lawmakers have unveiled a revised version of the Russia sanctions bill, the bipartisan bill first introduced by late Republican Senator Lindsey Graham and Democratic Senator Richard Blumenthal, easing the original 500 per cent tariff proposal for nations importing Russian energy, including India and China.
The measure, if implemented, would now grant US President Donald Trump authority to hit the countries with tariff rates up to 100 per cent.
The new version of the bill reduces tariffs that could be imposed on third-party buyers of Russian oil and natural gas to a maximum of 100 per cent for the top five purchasers, down from the previous proposal's blanket 500 per cent.
