Dimon Warns of Unintended Consequences from US-Russian Oil Tariffs
JPMorgan Chase CEO Jamie Dimon has urged Washington to reassess its approach to Russian oil tariffs, warning that further measures could have unintended consequences for India and global oil markets.
The comments come as a new US law aims to punish Moscow for its ongoing war against Ukraine by targeting Russian officials and key sectors of its economy.
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, signed into law on September 18, includes provisions that would allow the US President to impose tariffs of up to 100% on the five largest importers of Russian petroleum or natural gas.
Dimon expressed concerns that Indian refiners could be disproportionately affected by these measures, citing the country's significant purchases of Russian crude oil.