New U.S. Sanctions Law Threatens India’s Huge Russian Oil Trade

AI Summary

The U.S. passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, intensifying sanctions against Russia's energy sector. This law threatens India's import of cheaper Russian crude oil by allowing tariffs up to 100% on countries trading with Russia.

India’s imports of cheaper Russian crude oil have come under scrutiny in recent days after U.S. lawmakers passed a new sanctions bill against Russia’s energy sector. The “Lindsey O. Graham Sanctioning Russia and Iran Act of 2026,” which authorizes and expands statutory sanctions, tariffs, and prohibitions on Russia and extends existing sanctions on Iran, was signed into law by U.S. President Donald Trump on Friday.   The law allows the President to potentially impose trade tariffs of up to 100% on countries that are…