world β½ US sanctions bill could hit India with 100% tariffs
A new US sanctions bill might slap heavy tariffs on nations purchasing Russian oil and gas, potentially including India. This measure is escalating US pressure on Moscow amid the ongoing conflict. The US House cleared a procedural hurdle for the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, with a vote expected on Wednesday. The legislation aims to increase economic pressure on Russia regarding its war against Ukraine. This could significantly impact India's trade relations and export costs going forward. π§