New Delhi, Oct. 1 -- India's finance ministry has said that trade relations with the United States are currently strained because of the passage of the Lindsey Graham Bill through the US Congress and the presidential approval of the same, as per the Monthy Economic Report published on Thursday.

The bill empowers the US president to impose tariffs of up to 100 per cent on countries that purchase Russian crude oil, with India and China being among them.

The report comes at a time when the world economy is reeling under the effects of the US-Iran war, with oil prices having spiked in September. On the other hand, global bonds yeilds are higher, and will be spilling over into India's domestic bond yields. It also says that cross-border capi...