Russian oil purchase: How 500% tariff could upend $120 billion India-US trade - explained

US President Donald Trump has backed a bill that could levy 500% tariffs on countries buying Russian oil, giving the US leverage over major buyers such as China and India to curb imports from Moscow.

Jan 9, 2026 - 00:30
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Russian oil purchase: How 500% tariff could upend $120 billion India-US trade - explained
US President Donald Trump has backed a bill that could levy 500% tariffs on countries buying Russian oil, giving the US leverage over major buyers such as China and India to curb imports from Moscow.

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