The U.S. Senate passed a sanctions law against Russia called the «Lindsey O Graham Sanctioning Russia Act of 2026». This law aims to restrict Russia's income from oil and gas sales and targets five major buyers of Russian oil and gas.
The bill was approved by 86 votes and includes countries such as India and China. After it comes into force, U.S. President Donald Trump will have the right to impose tariffs of up to 100% on the listed countries.
Last Friday, a bill imposing sanctions against Russia was passed in the U.S. Senate. According to the Trump administration, the goal of this legislative act is to limit Russia's revenue from oil and gas exports. Although the bill has been approved by the Senate, it still requires approval from the House of Representatives and must pass all necessary administrative stages before coming into effect.
After its adoption, President Trump will be able to impose tariffs of up to 100% on five major consumers of Russian oil. Among these five countries, besides India and China, are Slovakia, Hungary, and Azerbaijan. These five countries were named in the U.S. sanctions bill, which passed the Senate and is heading to the House of Representatives, and may face tariffs of up to 100% imposed by Trump on imports from Russia.
Fund manager and Indian equity strategist Harsh Gupta Madhusudan warned in his post that the U.S. Senate sanctions bill targeting countries importing Russian oil is effectively anti-Indian. He noted that only five countries, including India, are at risk of Trump's 100% tariffs.
The expert questioned why other countries that continue to import gas and oil from Russia are not facing similar pressure, while other European states and the United States itself continue to import. He stated that this bill is an example of the current state of relations between India and the U.S. He also dismissed the idea of any special strategic ties between India and America, noting that as long as Trump talks about G2 with China, the other three countries remain insignificant.
Calling the bill anti-Indian, Madhusudan cautioned that reducing imports of oil and gas from Russia by India would lead to serious consequences. He warned that if India begins to reduce or limit its import of Russian energy until the end of the Russia-Ukraine war, it will either lead to a further rise in global oil prices or force China to increase its imports from Russia.
