22-September-2026
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Economy News
 
Examining US tariff law on Russian oil purchase: Goyal
22-Sep-2026

India is examining the details of the new US legislation that gives President Donald Trump the power to impose tariffs of up to 100% on countries buying Russian oil and gas, Commerce and Industry Minister Piyush Goyal said on Monday. Asked about the government’s backup plan in case Washington imposes additional tariffs on Indian exports, Goyal said, “Details are currently coming; once we have studied them, and at an appropriate time, we will discuss with you.” Trump signed the Lindsey O Graham Sanctioning Russia and Iran Act of 2026 on September 18, giving his administration a new, Congress-backed instrument to impose tariffs of up to 100% on goods from major buyers of Russian energy.

News Source:- https://www.financialexpress.com/policy/economy-examining-us-tariff-law-on-russian-oil-purchase-goyal-4344252/?ref=economy_hp