How did US tariff threat over Russian oil change for India from 500% to 100% and then to a waiver?
A proposal by late US lawmaker Lindsey Graham initially planned tariffs of up to 500% on countries buying Russian oil, including India and China. The final legislation adopted a 100% tariff mechanism targeting goods from five largest importers of Russian oil. However, US President Donald Trump's deal with Vladimir Putin to buy Russian diesel resulted in a tariffs waiver.
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