President Donald Trump can now impose tariffs of up to 100% on countries purchasing oil from Russia, putting China and India squarely in the crosshairs. The U.S. House on Wednesday passed a sweeping Russia sanctions bill, paving the way for Trump to tariff major purchasers of Russian energy. The move comes close on the heels of the BRICS Summit, where Russian President Vladimir Putin and leaders from the Global South, including China and India, condemned unilateral economic sanctions and secondary sanctions, without naming the U.S. All five top purchasers of Russian energy will be "extremely worried" about the potential application of this bill, said Deborah Elms, head of trade policy at Hinrich Foundation.
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