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India Faces 100% US Tariff Threat Over Russian Oil. India could face tariffs of up to 100 percent over its purchases of Russian oil after the US House of Representatives approved new legislation. The measure gives President Donald Trump broad powers to impose sanctions on Russia and steep tariffs on countries continuing to buy Russian oil and gas. It will now go to the president to be signed into law. India and China are particularly exposed because they are among Russia's biggest oil customers. Russian crude has become increasingly important to India since Moscow's invasion of Ukraine, as discounted supplies diverted from Western markets helped reduce import costs. Russia provided more than 30 percent of India's crude imports during the latest fiscal year, worth around $41 billion. In July, Russian oil accounted for more than half of India's crude imports, leaving New Delhi potentially vulnerable to any new US trade measures.
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