India faces 100% tariff threat over Russian oil after US House vote - BBC
India faces 100% tariff threat over Russian oil after US House vote - BBC
Source: BBC
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DW NOTE
The House just voted to punish India for buying discounted Russian crude while the Strait of Hormuz sits closed and global supply is down 6%. India imports 85% of its oil; Russia became its largest supplier precisely because Western sanctions created the arbitrage. A 100% tariff is a tax on arithmetic — India will buy the oil anyway, Americans will pay the passthrough, and the Russian discount will widen to compensate.