As US lawmakers rush to finalise amendments to the Russia sanctions bill, India finds itself explicitly named alongside China and other nations as potential targets for 100% tariffs over continued Russian oil trade, sparking significant debate in Congress.
Key Points
- US lawmakers are proposing amendments to the Russia sanctions bill, with a tight deadline before the House recess.
- One amendment specifically names India, China, and other nations as potential targets for 100% tariffs for trading Russian oil.
- Another key amendment seeks to entirely scrap the section authorising the President to impose broad secondary tariffs on Russia's trading partners.
- The bill aims to penalise countries enabling Russia to evade oil sanctions, which the US believes funds the war in Ukraine.
- Further amendments include presidential waiver authority for sanctions and authorising USD 15 billion in loans for Ukraine's defence.
Racing against time, United States lawmakers submitted amendments to the Russia sanctions bill, with one seeking to name its top trading partners -- including India -- in the legislation, and another proposing to scrap the section imposing tariffs altogether.
The Lindsey O Graham Sanctioning Russia and Iran Act, passed by the US Senate by an overwhelming 86-11 vote last month, seeks to impose sanctions not only on Russia's leadership and energy sector, but also on the 'shadow fleet' of vessels that enable Moscow to evade sanctions on oil deliveries.
The US believes that Russia's crude oil trade is funding the war against Ukraine.
The Bill also seeks to authorise President Donald Trump to impose 100 per cent tariffs on Russia's top oil trading partners, including China and India.
Proposed Amendments Target Russia's Trading Partners
The bill passed by the US Senate on August 7 does not name Russia's trading partners, but mentions the five largest importers of oil and gas by volume.
The bill must be passed by the House of Representatives before it is sent to the President for signature.
The House has four working days left before it breaks into early recess ahead of the midterm elections on November 3.
The amendment moved by Democratic Congressman Steny Hoyer seeks to name China, India, Turkiye, Azerbaijan, Hungary, the Slovak Republic, the United Arab Emirates, Singapore, Kazakhstan, and the Kyrgyz Republic as countries eligible for 100 per cent duties.
Key Lawmakers Seek To Alter Sanctions Scope
Interestingly, Democratic Congressman Gregory Meeks, who is staunchly opposed to granting more tariff-levying powers to Trump, has moved an amendment to scrap the entire Section 113 that seeks to grant authority to the President to impose broad secondary tariffs on Russia's trading partners.
The amendment moved by Meeks has three co-sponsors. The amendments to the Russia sanctions act were made public by the House Rules Committee on Monday.
Another amendment moved by Meeks seeks to allow the President to waive the sanctions applicable to a foreign person for a period of 90 days, with a provision for renewal for additional periods of 90 days, if it is 'vital to the national security of the US'.
Meeks has also moved an amendment seeking to authorise $15 billion in direct loans to Ukraine for financing the procurement of defence articles and services.
