US Bill to sanction Russian oil: Why it could become not just India’s, but the world’s problem
The US Senate voted 86-11 in favor of a Bill targeting Russian oil revenues amid the Ukraine war. The legislation proposes up to 100% tariffs on the top five buyers of Russian energy, with India being the second-largest market for Russian crude. The Bill now moves to the House of Representatives, which reconvenes on August 31, raising concerns about global oil market stability.