India Faces 100% US Tariff Risk As Senate Advances Russia Sanctions Bill
The US Senate advanced a sanctions bill that could impose tariffs of up to 100% on India and four other countries due to their reliance on Russian energy. The legislation, which passed with an 86-12 vote, aims to increase economic pressure on Russia amid its invasion of Ukraine. India's status as the second-largest buyer of Russian crude oil places it at significant risk of these tariffs, complicating its energy supply situation amidst ongoing global disruptions.