Russia Sanctions Law Raises Tariff Risk for India
News: The US House of Representatives has passed the Sanctioning Russia and Iran Act of 2026 by a vote of 262-159, following an 86-11 Senate vote in August.
The bill empowers the US President to impose steep tariffs, referenced at up to 100%, on countries that continue buying Russian oil and gas. It now awaits presidential signature to become law.
India is directly exposed because of its continued purchases of discounted Russian crude. US lawmakers backing the bill have named India alongside China as major buyers of Russian energy sold through discounted channels, and have signalled that continued purchases could trigger the tariff mechanism.
For Indian exporters, freight forwarders, and trade compliance teams, this is a live policy risk rather than a confirmed outcome, since the bill still needs presidential signature and any tariff action would follow separately. Businesses trading with the US, particularly in sectors already affected by earlier tariff rounds, should treat India’s Russian oil procurement as a factor that could materially raise landed costs on US-bound trade in the coming months.
Source: Business Standard
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