500% US tariff on Russian oil slashed to 100% in huge relief for India, China
The U.S. Senate revised its Russia sanctions bill, reducing the proposed tariff on Russian oil for major importers like India and China from 500% to 100%. This change aims to ease the financial burden on these countries while maintaining strict sanctions against Russia. The bill, originally championed by the late Senator Lindsey Graham, also targets Russian officials and aims to diminish reliance on Russian energy.