Russian oil and US tariffs: the stakes are higher this time

It's not clear that President Trump will implement a tariff on buyers of Russian oil following the US House's passage of legislation this week, given that it would cause further tightening in the oil market. But if a tariff is imposed, India is particularly exposed - Russian oil now accounts for more than half of crude imports, making it harder to cut purchases than last year. Higher tariffs would also complicate efforts to advance the US-India trade deal.