Donald Trump Threatens Secondary Tariffs on Russian Oil Buyers Amid Ukraine Conflict

Donald Trump threatens tariffs on Russian oil imports should the Ukraine conflict escalate, potentially impacting India and China. He expressed frustration with Putin and remarked about imposing significant tariffs if Russia continues its actions. Recent discussions suggest a possible ceasefire, though sanctions remain a critical point of negotiation.

Donald Trump has issued a warning regarding the imposition of “secondary tariffs” on Russian oil exports should the conflict in Ukraine escalate. This announcement could significantly affect nations such as India and China, which have increasingly relied on Russian oil since the onset of the war. In an interview with NBC News, Trump indicated that harsher sanctions may be enforced if a ceasefire is not established with Ukraine.

Expressing his frustration with Russian President Vladimir Putin during the phone interview, Trump remarked, “I was pissed off about it. But if a deal isn’t made, and if I think it was Russia’s fault, I’m going to put secondary sanctions on Russia.” He clarified that this would apply to all oil exports from Russia, mentioning plans to speak with Putin shortly.

Trump contended that any suggestion of new leadership in Ukraine by Putin would complicate potential negotiations. He remarked, “New leadership in Ukraine means you’re not going to have a deal for a long time, right?” The ex-President pledged that if he perceives Russia as the primary instigator of the conflict, he will impose significant tariffs on Russian oil buyers.

The proposed sanctions pose a dilemma for nations like India and China, the main purchasers of Russian oil since the conflict began. Trump suggested that should they continue purchasing Russian oil, they would face access restrictions to the U.S. market, stating, “There will be a 25% tariff on all – on all oil, a 25 to 50-point tariff on all oil.”

Recent developments have indicated that a temporary ceasefire had been discussed, with Ukraine and Russia agreeing to a truce concerning strikes on energy infrastructure. However, any resolution may hinge on the lifting of sanctions against specific Russian financial institutions involved in food and fertilizer trade, according to Russian demands.

In summary, Donald Trump has threatened the imposition of substantial tariffs on Russian oil exports, targeting countries such as India and China which heavily rely on Russian oil. His remarks highlight potential repercussions for these nations if they continue their oil purchases from Russia amidst ongoing geopolitical tensions. The situation reflects the complexities arising from the ongoing conflict in Ukraine and the interconnectedness of global energy markets.

Original Source: www.hindustantimes.com