Trump Backs Russia Sanctions Bill: India Faces 500% Tariffs, Petrol Price Hike Threat

• US President Trump greenlights a bipartisan bill to impose strict sanctions on Russia, targeting its oil revenue.
• The bill allows the US to impose up to 500% tariffs on countries buying Russian oil, potentially impacting India's exports.
• India currently imports significant quantities of discounted crude oil from Russia, helping stabilize domestic fuel prices.
• If enacted, the bill could force India to reduce Russian oil imports, potentially leading to higher petrol and diesel prices.
• India has diplomatic options and strong strategic ties with the US to discuss potential exemptions or resolutions.

Why It Matters: Trump's Russia sanctions bill threatens India's oil imports and exports, potentially raising fuel prices.