From 500 percent to 100 percent: US softens tariff threat against India, China over Russian oil
India, July 15 -- A bipartisan group of US senators has unveiled a new sanctions bill proposing tariffs of up to 100 percent on exports from India, China and three other countries over their purchases of Russian oil, media reports said.
The bill has reportedly received the backing of the White House.
The proposed legislation is seen as a softened version of the Sanctioning Russia Act, which was introduced in the Senate in April last year and sought to impose tariffs of up to 500 percent on countries purchasing Russian energy, including India.
However, the earlier version failed to make progress in the Senate.
"When Senator Graham and I last spoke, he was absolutely exultant, calling from Kyiv with news that President Trump would suppo...
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