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India Closely Monitoring US Bill on Russian Oil Tariffs

India said Friday it is closely monitoring a U.S. Senate bill that would authorize President Donald Trump to impose tariffs of up to 100 percent on India, China and other major buyers of Russian oil and gas. The bill, cleared by the Senate days ago, would allow the president to levy hefty tariffs on countries that purchase significant volumes of Russian energy. However, lawmakers from both parties and industry trade groups have raised concerns about the tariff provision, casting doubt on the bill's future. India's statement signals its attention to the legislative move as it continues to be a significant buyer of Russian crude.

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