<h1>Foreign government adds 25% tariff on oil imports to reach 50%, sparking steep equity declines and heavy foreign selling</h1> A foreign government's additional 25% tariff on the country's purchases of Russian oil, raising total levies to 50%, took effect and prompted steep early declines in benchmark equity indices, driven by investor concern and significant foreign institutional selling. Domestic institutional investors partially offset outflows with large purchases. Market commentary indicated the tariffs will weigh on near-term sentiment but are expected to be a temporary disruption; underlying risks remain high valuations and tepid earnings growth. Commodity prices eased slightly, and trading saw sectoral winners and losers amid volatile investor flows.