US Senate Passes Sanctions Bill Targeting Russian Oil Imports

In India, the impact of the price of oil reaches from the car parked at the petrol pump to the kitchen. Now a new decision from the US can shake this whole chain again. According to The New Indian Express, the US Senate has passed the Lindsey O. Graham Sanctioning Russia Act of 2026, which imposes tough sanctions on Russia. It has a provision to give US President Donald Trump the power to impose tariffs up to 100% on the imports of countries that buy large amounts of oil and gas from Russia. Big buyers like India and China can come under this provision. However, it is yet to be approved by the US House of Representatives and only then it will become a law. Most importantly, its impact will not be limited to India-US trade. If there is a big curb on the supply of Russian oil, then there can be pressure to increase the prices in the entire world's crude market. Its effect can ultimately reach the petrol, diesel, freight and general inflation path of the US family.