US Tariff Threat: Indian Export Stocks Plunge 13% Amid Russia Sanctions Bill

• Shares of Indian export-oriented textile and shrimp companies tumbled up to 13% after US President Donald Trump greenlit a bill proposing a 500% tariff on countries trading with Russia.
• The proposed "Sanctioning of Russia Act 2025" aims to penalize nations like India, China, and Brazil for purchasing discounted Russian oil, which the US claims funds Russia's war in Ukraine.
• Gokaldas Exports, K.P.R. Mill, Pearl Global Industries, Apex Frozen Foods, and Avanti Feeds saw significant declines, as they heavily rely on the American market for revenue.
• US Senator Lindsey Graham stated the bill would give the US leverage to stop countries from "fueling Putin’s war machine" and could be voted on next week.
• India maintains its energy purchases are guided by national interest, rejecting claims that PM Modi promised to halt buying Russian oil.

Why It Matters: US tariff threat over Russian oil purchases sends Indian export stocks tumbling, raising trade tensions.