India watching US Senate-passed bill could impose 100% tariffs
India is watching closely as the US pushes a new bill that could slap up to 100% tariffs on countries buying energy from Russia.
The Senate already passed it with strong support, and now it heads to the House at the end of August.
If approved, the US president would have the power to impose additional tariffs of up to 100%, and the US Trade Representative could raise or lower them within that range based on how much Russian energy a country imports.
India's crude 30.3% from Russia FY26
India and China are named as major buyers in the bill, so this could seriously impact India's oil imports from Russia, which made up 30.3% of its crude in FY26.
At the same time, India and the US are negotiating a fairer trade deal; recently, the US lowered some proposed tariffs on Indian exports and exempted nearly one-half of them from extra charges.
India's energy imports from the US also jumped, hitting $12.5 billion in fiscal 2026, so both sides seem keen to keep things balanced despite rising tensions.