Trump okays bill threatening 500% tariffs on India over Russian oil
PTC News Desk: US President Donald Trump has approved the bipartisan bill sanctioning Russia, which enforces punitive actions against Moscow' trading partners including India over purchase of Russian oil, said Republican Senator Lindsey Graham, a prominent defence hawk.
The Graham-Blumental Bill, if passed, would authorise the US President to levy up to 500 per cent tariffs on the nations that explicitly purchase Russian oil or uranium and contribute to Russian President Vladimir Putin's 'war machine'.
"This will be well-timed, as Ukraine is making concessions for peace and Putin is all talk, continuing to kill the innocent," Graham said in a statement.
Graham said he met President Trump at the White House on Wednesday, and during the meeting Trump expressed support for the sanctions bill that has been under discussion for several months. A White House official also confirmed this. Graham added that the Senate might vote on the bill as early as next week, though it is uncertain if that will actually happen.
The Senate is preparing to consider a smaller government funding bill next week, but only if the House passes it first. The following week the Senate will be on recess for Martin Luther King Jr. Day.
The sanctions bill, mainly drafted by Graham and Democratic Senator Richard Blumenthal, would allow the U.S. government to impose tariffs and secondary sanctions of up to 500 percent on countries that buy Russia’s oil, gas, uranium, or other exports. The goal is to cut off the major sources of money that support Russia’s military operations.
The White House had earlier asked for some changes and more flexibility for Trump in how the sanctions are applied, but it is not clear whether those adjustments were included.
The bill already has strong support, with many co-sponsors in the Senate and a similar version introduced in the House by Republican Representative Brian Fitzpatrick.
Meanwhile, the Trump administration is trying to finalise a peace agreement to end the war in Ukraine—now close to four years old—with special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner serving as the main U.S. negotiators.
- With inputs from agencies
