Washington, Sept 19:
US President Donald Trump on Friday signed into law a Russia sanctions bill that gives his administration new powers to impose tariffs of up to 100% on countries buying Russian oil and gas, potentially putting India and China in the crosshairs.
The legislation requires Trump to impose tariffs of up to 100% within 30 days on goods imported into the US from the five largest importers of Russian crude oil or gas. It also covers countries that knowingly make new purchases of Russian oil or gas after the law takes effect or rank among the top five countries helping Russia evade sanctions.
India and China are among the biggest buyers of Russian oil, but the legislation does not name specific countries or clearly explain how the top-five lists will be calculated. This leaves the Trump administration significant discretion in determining which countries could face tariffs.