By Admin 
Russia Sanctions Bill: America can impose tariffs up to 500 percent on countries purchasing crude oil from Russia. US President Donald Trump has supported the proposed bill imposing strict sanctions on Russia. If this bill is passed by the US Parliament, it can have a direct impact on countries like India and China, which buy large quantities of oil from Russia.
Bill prepared to increase pressure on Russia
Under the proposed ‘Sanctioning Russia Act’, the US President will have the power to impose tariffs of up to 500 percent on imports from countries purchasing Russian oil, gas and petroleum products. The purpose of this step is to put pressure on Russia’s energy income and to tighten its economic grip on the Ukraine war.
Trump said – there is a good possibility of the bill becoming law
While talking to reporters in the Oval Office, Donald Trump said that the Russia sanctions bill has a good chance of becoming law. He also indicated that the option of imposing secondary sanctions on India and China is still open. However, he said that the final discussion on this has not taken place yet.
White House also announced support
The White House told news agency ANI that President Trump supports this bill. This bill was prepared jointly by late Republican Senator Lindsey Graham and Democrat Senator Richard Blumenthal. Graham had said many times before that India and China are Russia’s biggest customers for energy purchases and Russia can be weakened by putting economic pressure on them.
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India may be affected
In recent months, India has reduced its imports of Russian crude following trade talks with the US and US sanctions on some Russian energy producers. Despite this, India is still among the major countries buying oil from Russia. In such a situation, if this bill becomes law, it may have an impact on India-US trade relations.
Senate approval still pending
Currently this bill is under consideration in the US Senate. Only after it gets approval there, it will be able to take the form of law. At the same time, some leaders of the Republican Party have also opposed this proposal, due to which everyone is keeping an eye on the process of its passage.