The European Union has welcomed a new US bill that could allow tariffs of up to 100% on countries such as India and China that continue to buy Russian oil. The measure is part of wider US efforts to increase economic pressure on Russia over the ongoing war in Ukraine. The US legislation has moved through Congress and gives the US President authority to impose heavy tariffs on countries purchasing Russian energy. European Commission President Ursula von der Leyen has continued to stress the need for stronger action against Russia and reaffirmed the EU’s support for Ukraine. The EU has also been working to reduce its own dependence on Russian energy, with legislation setting out plans to phase out Russian oil imports by the end of 2027. Supporters of the US measure argue that reducing revenue from Russian oil could increase pressure for an end to the Ukraine-Russia war, while India and China have raised concerns about the impact of such tariffs on their energy security and trade. India has said that its energy policy is focused on securing reliable and affordable supplies for its population. The issue is therefore becoming an important point in global energy, trade and diplomatic relations, with its impact likely to be closely watched by oil markets, India, China, Russia, the US and the European Union.
