A bipartisan US Senate bill proposes tariffs of up to 100% on imports from India, China and three other countries buying Russian oil, PTI reported. The legislation also seeks blocking sanctions on Russian sectors including energy and finance. Senator Richard Blumenthal said the measure targets major purchasers and includes narrowly tailored waivers for affected nations.
A bipartisan group of US senators has introduced a bill proposing tariffs of up to 100% on imports from five countries, including India and China, for purchasing Russian oil.
The proposed legislation, brokered by late Republican Senator Lindsey Graham, also seeks to impose full blocking sanctions on key sectors of the Russian economy. These include the energy and financial industries, the defence industrial base, oligarchs, business leaders and Russian President Vladimir Putin.
Apart from India and China, the other countries covered by the proposed tariffs are Slovakia, Hungary and Azerbaijan, PTI reports.
“It's been referred to as a tariffs bill, but actually it imposes full blocking sanctions on wide swaths of the Russian economy, including its energy industry, financial industry, defence industrial base, oligarchs, business people, and Vladimir Putin himself,” Richard Blumenthal, a Democratic Senator from Connecticut, told reporters in Washington on Tuesday.
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