In order to prevent the purchase of crude oil from Russia, a bill empowering the U.S. president to impose a 100 percent tariff on countries including India and China was passed in Parliament, and Donald Trump signed it into law.
After the bill was passed in the upper house of the U.S. Parliament (the Senate) last month, it was also passed yesterday in the lower house (the House of Representatives), and today, with U.S. President Trump signing it, the bill has become law.
It is noteworthy that, with the aim of preventing the import of crude oil from Russia, this law could allow a 100 percent tariff to be imposed on imported goods from countries like India and China, and Trump could also impose additional economic sanctions on Iran.
The war between Ukraine and Russia has been going on for more than four years. In this war, the United States and European countries have been providing Ukraine with military aid and other assistance. They have also imposed various sanctions aimed at economically pressuring Russia. Crude oil exports are a major source of support for Russia’s economy. As a result, the United States has also imposed a ban on countries importing crude oil from Russia.
At the same time, because of the war between Iran and the United States in West Asia, crude oil shipping has been affected. As a result, the United States temporarily allowed some countries, including India, to import crude oil from Russia so that there would be no shortage of petrol and diesel.
In this situation, a bill has been introduced in the U.S. Congress that gives that country's President Trump the authority to impose a 100 percent tariff on Russia as well as on countries including India and China that import crude oil from Russia, and President Donald Trump has signed it.
After most MPs in the House of Representatives voted in favor, the bill was declared passed. Following this, the bill was sent for President Trump’s approval, and President Trump has signed the bill into law.
What happens next?
Now that Lindsey O. Graham’s bill has become law, Trump can impose sanctions on the Russian leadership (the president), on Russia’s energy sector, and on ships that are indirectly used by Russia for crude oil trade.
Moreover, it is noteworthy that Trump can impose a 100 percent tariff on India, China, and other countries that import crude oil from Russia, as well as additional economic sanctions on Iran.
