US President Donald Trump has approved a Senate bill that could impose a 500 percent tariff on countries continuing trade with Russia, including India and China, according to Republican Senator Lindsey Graham. In an interview with ABC News, Graham stated, “If you’re buying products from Russia and not supporting Ukraine, your goods could face a 500 percent tariff when entering the US. India and China buy 70 percent of Putin’s oil. They keep his war machine going." During the interview, Graham further revealed that the bill, co-sponsored with Democratic Senator Richard Blumenthal, has the support of 84 senators and is expected to be introduced in August. Giving details on the bill, the Republic Senator said that the Donald Trump's backing came during a recent golf game, where the US President told him, "It's time to move your bill." According to a report in the Wall Street Journal, the Donald Trump adminsitration had previously urged Lindsey Graham to replace binding terms in the legislation - such as "shall" - with more discretionary wording like "may" to weaken its mandatory enforcement provisions. As Russia’s war in Ukraine enters its third year, US Secretary of State Marco Rubio stated that while the Trump administration is cautious about disrupting the broader peace process, it is not ruling out the use of sanctions. How Would The Bill Impact India And China? The proposed tariffs are expected to hit India and China the hardest, as the two nations together account for around 70 percent of Russian oil purchases. India-Russia bilateral trade reached a record high of $68.7 billion in the 2024–25 fiscal year, a sharp jump from the pre-pandemic level of $10.1 billion. This surge has been driven largely by India’s rising exports and significant imports of Russian oil and other critical commodities. As economic ties strengthen, both countries have set a bold goal of boosting bilateral trade to $100 billion by 2030.