500% tariffs on India? US Senator says THIS bill greenlit by Trump will impose penalties on countries buying from Russia

United States Republican Senator Lindsey Graham from South Carolina told media that US President Donald Trump has greenlit a new “tough” sanctions bill, that would penalise countries that continue to buy from Russia, Reuters reported.

The bill proposes 500 per cent tariffs on countries that buy Russian oil, and India and China are the top customers, he added.

In response, Russia has said it took note of the comments, and warned of the move's impact on efforts towards a peace deal with Ukraine, the report said.

‘Big Breakthrough’, says Lindsey Graham

Speaking ABC News on June 30, Graham said that Donald Trump in “a breakthrough” decision had told him the sanctions bill should be brought forward for a vote in the US Senate.

He added that the bill is a “tool” to bring Russian President Vladimir Putin to the negotiating table on Ukraine and give Donald Trump bargaining power.

He however noted that Donald Trump had veto on whether the bill would be signed into law, even after it is passed by US Congress.

Russia questions effectiveness of sanctions in gaining settlement

Kremlin spokesman Dmitry Peskov told the agency that Russia was aware of Graham's stance and had taken note of his statement.

“The senator's views are well known to us, they are well known to the whole world. He belongs to a group of inveterate Russophobes. If it were up to him, these sanctions would have been imposed long ago. Would that have helped the (Ukraine) settlement (process)? That is a question that those who initiate such events should ask themselves,” Peskov said.

US Senate's Russia sanctions bill

• The bill proposes 500 per cent tariffs on countries that buy Russian oil, gas, uranium and other exports. 
• China and India account for about 70 per cent of Russia's international energy business. 
• The bill's lead sponsors are Graham and Democratic Senator Richard Blumenthal of Connecticut.
• It has at least 82 co-sponsors in the 100-member Senate. 
• Graham said the bill would impose “bone-breaking sanctions” on Russia and its customers if Moscow does not engage in talks, or if it initiates another effort undermining Ukraine's sovereignty after any peace deal.

(With inputs from Reuters)