https://www.taxtmi.com/news?id=69920 US imposition of 25% tariff plus an additional 25% punitive duty on Indian purchases of Russian crude oil and military equipment aimed to change buyer behaviour; an announced reciprocal tariff reduction from 25% to 18% was linked to India agreeing to stop Russian oil purchases, reduce tariff and non tariff barriers to US goods, and commit to purchasing an additional USD 500 billion of US products, while a senator proposed legislation permitting punitive tariffs up to 500% on Russian oil purchasers. en-us Tue, 03 Feb 2026 23:16:04 +0530 Tue, 03 Feb 2026 23:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=69920 US imposition of 25% tariff plus an additional 25% punitive duty on Indian purchases of Russian crude oil and military equipment aimed to change buyer behaviour; an announced reciprocal tariff reduction from 25% to 18% was linked to India agreeing to stop Russian oil purchases, reduce tariff and non tariff barriers to US goods, and commit to purchasing an additional USD 500 billion of US products, while a senator proposed legislation permitting punitive tariffs up to 500% on Russian oil purchasers. News - Tue, 03 Feb 2026 23:16:04 +0530 https://www.taxtmi.com/news?id=69920