U.S. House Passes Bill Allowing Up To 100% Tariffs On Countries Buying Russian Oil
The U.S. House of Representatives passed a new sanctions bill targeting Russia, which could enable President Donald Trump to impose tariffs as high as 100% on countries purchasing Russian oil and gas, including major buyers like China and India. The legislation is part of broader efforts to isolate Russia economically in response to its actions in Ukraine. The proposed measure aims to deter nations from continuing trade with Russia by making such transactions significantly more expensive through steep tariffs. This move could have a substantial impact on global energy markets, particularly as countries seek alternative oil supplies amid ongoing geopolitical tensions and Western sanctions against Moscow.
Topics: oil and gas Russia tariffs U.S. sanctions