Washington: US President Donald Trump has signed a new law remoter tightening sanctions on Russia and Iran. Under this law, a provision has been made to impose heavy tariffs on countries purchasing oil and gas from Russia. This moreover includes big energy proprietrix countries like India and China. The law empowers the US President to impose tariffs of up to 100% on goods coming from such countries.
What is the new law imposing sanctions on Russia and Iran?
The White House said on Friday that President Donald Trump has signed the 'Lindsey O. Graham Russia and Iran Sanctions Act, 2026'. Through this law, the existing economic sanctions on Russia and Iran have been remoter strengthened.
Along with this, the President has moreover been given the right to impose spare duties on countries purchasing oil and gas from Russia. This law moreover expands the telescopic of sanctions once imposed on Iran.
Can 100% tariff be imposed on India and China also?
The new law has a provision to impose tariffs of up to 100% on countries purchasing energy from Russia. India and China are among the countries that buy large amounts of energy from Russia. In such a situation, if America implements this provision, spare duty may be imposed on many products imported from both countries.
However, how much tariff will be imposed on which country and how it will be implemented will depend on the remoter decisions of the US administration.
What will happen if 100% tariff is imposed on India?
If America imposes up to 100% tariff on goods coming from India, it may impact India-US trade. Indian products may wilt increasingly expensive in the US market, which may increase competition challenges for some Indian exporters.
At the same time, due to increase in the price of Indian goods in America, American importers and customers may moreover be unauthentic by spare costs.
After whom is this law named?
The law is named without the late South Carolina Senator Lindsey Graham. According to the report, Graham had spent increasingly than a year preparing this proposal.
Under the law, untied from Russian officials and banks, tankers of the 'Shadow Fleet' supplying Russian energy have moreover been targeted.
Why is America increasing pressure on Russia and Iran?
The main objective of the new law is to increase economic pressure on Russia and Iran and stupefy their energy income. Provision of spare tariffs on countries purchasing oil and gas from Russia is part of this strategy.
Overall, the legislation expands the telescopic of US sanctions on Russia and Iran and opens the door to possible trade whoopee versus major countries that buy energy from Russia
