US Senate Passes Russia Sanctions Bill Calling For 100% Tariffs On India, China
The US Senate has passed a bipartisan bill that allows for 100% tariffs on countries like India and China if they continue to purchase significant amounts of Russian energy. The legislation also extends sanctions against Iran and aims to restrict Russia's ability to fund its war in Ukraine.
Why it matters
This legislation represents a significant shift in US trade policy and foreign relations, potentially impacting major global economies and energy markets.
The US Senate has advanced a long-awaited bipartisan bill to impose more restrictions on major buyers of Russian energy and extend penalties against Iran, paving the way for passage of long-stalled legislation championed by the late Senator Lindsey Graham. The bill allows US President Donald Trump to impose tariffs on the world's top five purchasers of Russian oil or natural gas, including India and China. The measure, which has received support from Trump, received 86 to 12 votes, with nearly all Republicans and a majority of Democrats joining hands to make it cross the 60-vote threshold. The passage of the bill in the Senate came hours after Graham, who died suddenly this month, was memorialised and not long after senators met Ukrainian President Volodymyr Zelensky on Capitol Hill, while he was there to honour the Republican senator who was a vocal critic of Russian aggression.About The BillThe bill would impose sanctions on…
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