The US Russia Sanctions Act, signed by President Donald Trump, lets Washington levy tariffs of up to 100% on countries importing large volumes of Russian oil, including India. Unlike earlier executive-order tariffs, the law carries greater legal permanence and requires written justification for waivers. Indian exporters, especially MSMEs, face severe losses as the US is their largest market.
US Russia Sanctions Act Escalates Tariff Threat to India
Source: The Hindu