India confronts 100% U.S. tariffs on Russian oil as Russia's energy sales surge

The U.S. Senate has introduced a bill that would impose tariffs of up to 100 percent on the five largest purchasers of Russian oil and gas – China, India, Slovakia, Hungary and Azerbaijan. The measure, named after the late Senator Lindsey Graham, is backed by more than 60 lawmakers and is intended to cut revenue flowing to Moscow and pressure Russia over its war in Ukraine.

Indian officials say the proposed tariffs will not become a sticking point in ongoing India‑U.S. trade negotiations, and both governments remain committed to finalising a bilateral trade agreement. Meanwhile, India continues to be the world’s top importer of Russian crude, with purchases rising to roughly 2.6 million barrels per day in July 2026 – almost four times the volume sourced from Saudi Arabia. Venezuelan crude has also re‑entered India’s top‑five supplier list.

In Europe, France, Greece and Slovakia raised their Russian gas imports in May to the highest levels recorded since early 2025, highlighting divergent national responses to EU‑wide sanctions. The broader EU market also recorded a record import of Russian liquefied natural gas in the first half of 2026, underscoring the limits of sanctions when alternative supplies remain costly.