The US Senate's overwhelming passage of the Lindsey O Graham Sanctioning Russia and Iran Act is not merely another escalation in Washington's campaign against Moscow. It marks a more consequential shift: the attempt to make third countries pay an economic price for continuing to trade with Russia. For India, this is a warning.
The legislation will authorise Trump to impose tariffs of up to 100% on goods from the largest purchasers of Russian crude oil and natural gas, as well as countries facilitating sanctions evasion. The bill still has to clear the House and receive presidential assent. Its eventual impact will, therefore, depend heavily on how Washington chooses to exercise the considerable discretion built into it.
