The bill of the US economic bunker ‘of the US: will Donald Trump impose 500% rate on countries importing oil from Russia? How it can affect India – times of India

India, a large importer of crude oil from Russia, may have to look for a new American bill that proposes to impose a rate of 500% on countries importing from Russia. In an interview with ABC News, Senator Lindsey Graham said that he wanted the US to impose rates to prevent them from supporting the Vladimir Putin war machine. Three years ago, Moscow launched a full invasion of Ukraine on 24 February 2022. “Big breakthrough here. So what does this bill do? If you buy Russia products and you do not help Ukraine, then there is a rate of 500 percent on your products that enter the United States. India and China buy 70 percent of Putin’s oil from Putin’s Oil. Yesterday for the first time the president told me, “said Graham.Also read: ‘Economic bunker buster for India, China’: how this Russian sanction account of this US Senator would prove ‘Bone Crushing’ for trade, if adoptedGraham has actively argued for legislation and warns that it would serve as an “economic bunker buster” for countries such as India and China, which have considerably improved their import of Russian petroleum products.

What is the 500% tariff threat?

How does it affect India?

India changed its oil -purchasing patterns considerably after the Russian invasion in Ukraine in February 2022. The country passed from its traditional suppliers from middle -eastern -easterns to Russian oil sources, and benefited from favorable prices as a result of Western sanctions and European embargos. Russian oil deliveries to India in May was 1.96 million barrels per day (BPD).The transformation in India’s oil import strategy has been remarkable, with the share of Russian oil increasing from less than 1 percent to around 40-44 percent of the total rough purchases in a short period.Read also | India calls seized crude oil: RIL, Nayara Energy gets a large part of the export of Russia’s flagship oil; Reliance World’s Single largest copper of uralsThe Russian oil import from India reached new heights in June, so that the combined import from Saudi Aarabia and Iraq was surpassed during a period of market insecurity after the most important offensive of Israel against Iran.As the world’s third largest oil importer and consumer, India has protected around 5.1 million barrels of international crude oil, which are refineries convert into various fuel products, including gasoline and diesel.“According to the preliminary analysis of the global trade analysis company Kpler, quoted in a PTI report, Indian refineries are expected to buy 2-2.2 million barrels of Russian crude oil in June, reach a peak of two years and the total quantities obtained from Iea, Saudi-Arabia, the UEoedi-Arabia.”India is also the primary receiver of the Russian Orals oil quality that will be transported by sea in 2025, and received 80% of the total export. The two private refineries of the country have considerably increased their import of this cheaper crude oil.According to Kpler statistics that are referred to in a Bloomberg report, India has acquired 231 million barrels of urals until 24 June, with Reliance Industries Ltd. and Nayara Energy Ltd. who together achieved 45% of the Russian export of this medium -sized fourth degree.The share of Urals purchases by these two private Indian refineries has steadily increased in recent years, in particular in 2025. Reliance has positioned itself as the world’s largest buyer of urals, who bought 77 million barrels in the current year.That is why a rate of 500% for countries that import oil from Russia can very poorly influence. India has also performed the oil import from America. The export of crude oil to India in the United States saw a significant increase of 439,000 barrels per day in June, which marked a remarkable increase compared to the 280,000 barrels per day registered in May.

Will Trump really sign the 500% rate order?

Graham has clarified that Trump would maintain discretionary power through a exemption provision, so that he can decide on the implementation of the bill if it is successful through the congress.“I played with him (Trump). He says:” It’s time to move – Move your account. There is an exemption in the bill, Mr. President. You have the management or it must be implemented. “But we are going to give President Trump a tool in the toolbox he doesn’t have today. After the break in July, we will approve a bill that allows the president, “Graham worked out.Read also | ‘Highest in two years’: India increases the oil import from Russia, USA in the midst of the war in Iran-Israel; Why it’s strategic positioning, not in panic

Russia’s answer to the bill

The official spokesperson for the Kremlin, Dmitry Peskov, spoke the comments about Van Graham on Monday and acknowledged that Russia had followed the position of the US senator and noticed his recent statement.“The senator’s views are well known, they are well known to the whole world. He belongs to a group of intensifying Russophoben. If it were up to him, these sanctions would have been imposed long ago,” Peskov said.Peskov further doubted the effectiveness of such measures by saying: “Would that have helped the (Ukraine) scheme (process)? That is a question that those who initiate such events should ask themselves.”