The U.S. House of Representatives has advanced legislation that could give President Donald Trump authority to impose tariffs of up to 100% on countries continuing to purchase Russian oil and gas. India and China are among the countries specifically named in a proposed amendment.
The measure is part of a broader Russia sanctions bill aimed at increasing economic pressure on Moscow over the Ukraine war. However, the 100% tariff is not automatically in force; the legislation still needs to clear the House and complete the required legal process before the presidential authority could be used.
The proposal could have wider implications for global energy trade, as Russian crude remains an important source of supply for several major economies. At the same time, oil markets are already facing supply concerns linked to disruptions in the Middle East.
The measure is part of a broader Russia sanctions bill aimed at increasing economic pressure on Moscow over the Ukraine war. However, the 100% tariff is not automatically in force; the legislation still needs to clear the House and complete the required legal process before the presidential authority could be used.
The proposal could have wider implications for global energy trade, as Russian crude remains an important source of supply for several major economies. At the same time, oil markets are already facing supply concerns linked to disruptions in the Middle East.