Brief by Shorts91 NewsDesk / 06:48am on 02 Jul 2025,Wednesday Business
A new bipartisan Senate bill, S.1241, called the Sanctioning Russia Act of 2025, would impose 500% tariffs on countries such as India and China that continue buying Russian oil, gas, petroleum products or uranium, if Russia refuses peace negotiations on Ukraine. Backed by 84 co‑sponsors and endorsed by former President Trump, who reportedly gave the go‑ahead during a golf game, the measure would provide the president with discretionary “secondary tariffs”. Kremlin spokesman Dmitry Peskov dismissed the bill as “Russophobic” and urged backers to consider its potential harm to Ukraine peace efforts. The bill is expected to reach the Senate floor after August recess. (PC: The Indian Express & Business Standard)
