Punjab, Sept. 23 -- S Jaishankar met US Secretary of State Marco Rubio at the UN General Assembly in New York and raised India's concerns over the Sanctioning Russia and Iran Act - the law that authorises tariffs of up to 100% on the largest buyers of Russian crude.
What the law does
The Lindsey Graham-sponsored Act of 2026 lets the US President impose tariffs of up to 100% on the top five importers of Russian crude oil and gas.
India is the second-largest buyer of Russian crude after China. The tariff would fall not on the oil but on Indian exports to the United States - which is the part worth being clear about, because it means the penalty lands on textiles, pharmaceuticals, engineering goods and services rather than on the energy tra...