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US may impose 500% tax on countries buying oil from Russia

  US President Donald Trump has approved a bill related to strict sanctions against Russia. According to a report by the Economic Times, this bill includes a provision to impose a tax of up to 500 percent on countries that buy oil from Russia, especially India, China and Brazil. It will now be presented in the Parliament next week and a vote will be held on this bill. If this bill is passed in the Parliament, then the US will be free to impose more taxes on these countries.

The purpose of the bill, called the Sanctioning Russia Act of 2025, is to put pressure on those countries that are buying crude oil from Russia during the Ukraine war. The US believes that this is helping Russia fight the war.
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