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House Passes Bill Authorizing 100% Russian Energy Tariffs

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Tariffs Raise Oil Prices
  • The House passed a bill on September 16, 2026 letting President Donald Trump impose up to 100 % tariffs on buyers of Russian oil and gas, including India.
  • Critics say tariffs will raise oil prices and deprive the world’s poorest of affordable energy.
  • The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 targets the five importers.
  • India’s foreign ministry pledged to protect trade while warning tariffs could damage bilateral ties.
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