How US Senate Russia sanctions could spell 100% tariffs for India, China

Core Impact Points

• The US Senate bill, 'Lindsey O Graham Sanctioning Russia Act of 2026,' has been advanced with a vote of 86 to 12, allowing it to proceed to the House of Representatives.
• The bill targets Russia's energy exports, including its 'shadow fleet' of oil tankers, and gives the president authority to impose sanctions and tariffs on countries buying Russian oil.
• Countries like India, China, and Türkiye are potential targets of the bill, as they are among the largest buyers of Russian energy.
• US President Donald Trump has ordered lawmakers to amend the bill to include tariffs covering Iran, which may delay its passage.
• Critics argue that the bill gives Trump too much power to impose tariffs and may harm US taxpayers and allied countries.
• The bill's passage could have significant implications for the US economy, as it may lead to higher energy prices and trade tensions with countries like China and India.