US House reportedly passes bill allowing up to 100% tariffs on Russian energy buyers
A post citing The Wall Street Journal says the measure targets the five biggest importers of Russian oil and gas. Moneycontrol reports India is unlikely to cut Russian oil imports, with alternatives remaining costly.
TLDR
A September 17 post citing The Wall Street Journal says the House passed a bill the previous day that would let President Trump impose tariffs of up to 100% on countries buying Russian energy. The measure targets certain Russian individuals and entities and the five biggest importers of Russian oil and gas. It would also extend Iran sanctions until 2031.
India emphasized energy security for its 1.4 billion people and diversified sourcing, while China opposed unilateral sanctions and βlong-arm jurisdiction,β according to posts describing their reactions.
Moneycontrol reports India is unlikely to cut Russian oil imports while alternatives remain costly. Analysts cited by the outlet say diversification, rather than complete replacement, is likely to remain India's preferred strategy in the medium term.
Combined views
73.2K
3 Sources, first seen ago