Bill Threatening 500% Tariff On India For Russia Oil Trade Gets Trump's Nod

US President Donald Trump has "greenlit" the bipartisan Russia Sanctions Bill, which could be used to penalise Moscow's trading partners, including India, China and Brazil, over their purchase of Russian oil, said Republican Senator Lindsey Graham, a prominent defence hawk.

If passed, the Graham-Blumenthal sanctions bill would authorise the US President to levy up to 500 per cent tariffs on nations that knowingly purchase Russian oil or uranium and "fuel Russian President Vladimir Putin's war machine". The hard-hitting sanctions package is meant to economically cripple Moscow as the Trump administration continues to negotiate a deal to end the war that began with Russia's invasion of Ukraine.

Graham said he met with Trump at the White House on Wednesday, during which the President extended his support to the bill that has been in the works for months. The development was also confirmed by a White House official while talking to the Associated Press.

"This will be well-timed, as Ukraine is making concessions for peace and Putin is all talk, continuing to kill the innocent," Graham said in a statement.

Graham said there could be a vote as early as next week, although it's unclear how likely that will be. The Senate is poised to take up a scaled-back government funding package next week that the House is currently considering, if the House passes it. The following week is a Senate recess timed to Martin Luther King Jr Day.

About The Russia Sanctions Bill

The bill, chiefly written by Graham and Democratic Senator Richard Blumenthal, allows the administration to impose tariffs and secondary sanctions up to 500 per cent on countries that purchase Russia's oil, gas, uranium and other exports. Doing so is meant to cut off the source of financing for much of Russia's military actions.

The White House has previously insisted on some revisions and flexibility for Trump in the sanctions package, but it is not clear whether any changes were secured.

The legislation has dozens of co-sponsors in the Senate, as well as a companion bill in the House, drafted by Republican Representative Brian Fitzpatrick.

The Trump administration is currently trying to finalise a peace deal to end the war in Ukraine, now nearly four years old, with special envoy Steve Witkoff and Jared Kushner, Trump's son-in-law, as the U.S. president's chief negotiators.