Trump signs Russia Sanctions Bill, clears way to impose 100% tariff

Trump administration has new legal authority to impose heavy tariffs on countries that buy large quantities of oil and gas from Russia. Trump signs Russia Sanctions Bill, clears way to impose 100% tariff: US President Donald Trump on Friday(September 18) has signed the Russia Sanctions bill into law, the White House said in a statement. The president has been given the power to impose tariffs of up to 100 percent on the top five countries that buy oil from Russia. US President Donald Trump has signed the new law related to the the ‘Lindsey O’Graham Sanctioning Russia and Iran Act of 2026’. It authorizes and expands statutory sanctions, tariffs and prohibitions on Russia and extends existing sanctions on Iran, the White House said.  After this law, the Trump administration has new legal authority to impose heavy tariffs on countries that buy large quantities of oil and gas from Russia. However, the law does not mean that 100 percent tariffs are immediately imposed on India or any other country. The President also has the power to fix tariff rates and grant exemptions in the national interest. India and China are among the biggest buyers of Russian oil, putting them at the center of the potential tariff risk. According to available data, India was the largest buyer of crude oil imports from Russia in August with around 1.6 million barrels per day, while China was second with around 1.1 million barrels per day. Under the new law, Trump is required to impose duties of up to 100% on goods imported from the five biggest buyers of Russian crude oil or natural gas, based on volumes in the 12 months before the legislation was enacted. The countries that fall within the top-five lists include India, China, Brazil, Japan and some European Union nations. The law comes into effect within 30 days. The post Trump signs Russia Sanctions Bill, clears way to impose 100% tariff appeared first on Pratidin TV - Breaking News & Latest Update.