US President Donald Trump has backed a Senate bill that may impose 500% tariffs on countries like India and China for buying Russian oil. The bill aims to pressure them to stop trade with Russia amid the ongoing Ukraine war. India’s imports of Russian oil jumped from under 1% to 40-44% of total crude oil imports after 2022. In June, India imported more Russian oil than from Saudi Arabia and Iraq combined. Indian refiners were set to import 2–2.2 million barrels per day from Russia in June, the highest in two years. In May, oil imports from Russia stood at 1.96 million barrels per day. If passed, the US bill could raise tariffs on Indian exports by up to 500%. However, India is working on a trade deal with the US, which may help lower overall tariffs. #NowIndia #India #RussianOil #Trump #China #Russia #Modi