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A 100% US tariff sounds devastating. Giving up Russian oil could cost even more

Posted on August 2, 2026
By Financial Express
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1 min read

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A 100% US tariff sounds devastating. Giving up Russian oil could cost even more

As the US Senate advances a bill enabling up to 100% tariffs on buyers of Russian energy, India faces a high-stakes trade dilemma between rising oil import bills and hit to US exports.