The US has taken a tough stand on countries trading with Russia. Even three years after Russia’s war against Ukraine, some countries, especially India and China, are still buying oil from Russia. After this, US Senator Lindsey Graham has introduced a bill. It talks about imposing 500 percent tariff on countries doing business with Russia. This bill has the support of President Donald Trump himself.
This news has rung alarm bells for countries like India, which are buying cheap oil from Russia. Let us know what this bill is and what impact it can have on India. Speaking to ABC News on Sunday, Graham said that Trump has given the green signal to bring this bill for vote after the July holidays. This bill is a weapon to weaken Russia’s war machinery and bring President Vladimir Putin to the negotiating table on the Ukraine issue.
This bill talks about imposing heavy tariffs on countries buying oil and other goods from Russia, especially India and China. Senator Graham says that India and China buy 70 percent of Russia’s oil. Through this bill, America wants to put pressure on these countries so that they stop trading with Russia. Graham also clarified that Trump will have the right to veto the bill, meaning he can decide whether to implement it or not. This bill has the support of 84 senators.
Graham said, “We are giving Trump a weapon that he does not have right now.” This bill was introduced in March, but it was postponed due to objections from the White House and efforts to improve Trump-Putin relations. Now it seems that the Trump administration is ready to support this bill. At the beginning of the Russia-Ukraine war, the US and European countries imposed trade sanctions on Russia. Along with this, the global trade payment gateway SWIFT was also banned for Russia. This made it difficult for Russia to trade with anyone else.