US lawmakers unveiled a revised Russia sanctions bill reducing the proposed tariff on countries importing Russian energy from 500% to 100%. The proposal also includes exemption and waiver provisions that could benefit India and China while maintaining pressure on Moscow over the Ukraine war
Washington DC: The United States has proposed revisions to its Russia sanctions bill that could provide relief to India and China, the world's two largest importers of Russian crude oil.
The updated proposal significantly softens the earlier tariff plan, reducing the maximum proposed tariff on countries buying Russian energy, according to Reuters.
Revised tariff proposal
The proposed legislation aims to impose sanctions on Russian officials while using tariffs to discourage countries such as India and China from continuing to rely on Russian energy imports.
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