US Russia sanctions bill: proposed 100% tariff and what it means for India

📌 Summary:

• A bipartisan group of US senators unveiled a revised Russia sanctions bill (originally backed by the late Senator Lindsey Graham) aimed at cutting Russia's oil and gas revenue
• New version proposes tariffs of up to 100% on the top five buyers of Russian oil and natural gas, down from a blanket 500% in the original bill; India is the second-biggest market for Russian crude
• Crucially, the new bill gives the US President power to waive its provisions — India is expected to push for such a waiver
• India's constraint: cutting Russian oil imports is not viable amid tight global energy supply and the West Asia crisis; doing so would spike prices, which even Washington wants to avoid before US midterm polls
• Analysts warn the bill "risks colliding" with ongoing India-US trade talks; tariffs could be used as leverage against India
• India's consistent position: it is free to buy oil from whoever offers the best price, as long as it is not under sanctions

🎯 UPSC Relevance: GS2 — India-US and India-Russia relations, energy security, impact of unilateral sanctions and extraterritorial tariffs on India's strategic autonomy.

📝 Prelims Facts:

• Revised bill: up to 100% tariff on top 5 buyers of Russian energy (originally 500%)
• India is the 2nd-largest buyer of Russian crude
• Bill grants the US President waiver authority

🔑 Key Term: Secondary sanctions / secondary tariffs — penalties imposed by one country on third parties (like India) for trading with a sanctioned nation, used to enforce sanctions extraterritorially.