The President of the United States, Donald Trump, has expressed his backing for a bipartisan sanctions bill that aims to exert more pressure on Russia to end its hostilities in Ukraine. The bill would empower the U.S. to introduce very high tariffs, some of which could be as high as 500 percent, on those nations, including India and China, that keep on buying Russian oil.
Sanctions Bill Targets Russian Oil Trade
A Republican Senator, Lindsey Graham, made it public through his account on the X platform about the details of his recent encounter with President Trump. He said that Trump had given his blessing to the sanctions bill to be processed. The vote on the bill is likely to take place next week.
Graham remarked that the bill is aimed at preventing nations from acquiring oil from Russia. He maintained that countries like India, China, and Brazil are indirectly giving a hand to Russia by consuming its oil. The legislation would permit the U.S. to slap tariffs of 500 percent on those countries that breach the sanctions.
Strong Remarks Against Russia
Graham was harsh against Russia’s head of state Vladimir Putin, heaping the latter with the charge of resorting to violence in Ukraine while at the same time claiming to be interested in a peaceful solution. He reiterated that the bill would be pushed through quickly so as to tighten the economic noose around Moscow.
Impact on India and Chinese
At the moment, China occupies the position of being the biggest importer of Russian oil whereas India comes second. The President of the United States has been worried about these oil imports for a while. This issue was one of the factors that contributed to the decision to apply a 50 percent tariff on some Indian imports last year.
Meanwhile, India and the United States continue to have trade agreement talks. Thus, Trump's backing of the sanctions bill is perceived as a pivotal event that could have economic ramifications.
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