Trump Threatens Secondary Tariffs on Russian Oil amid Ukraine Conflict
US President signals tough trade measures following criticisms from Putin on Ukrainian leadership.
US President Donald Trump has announced his intention to impose secondary tariffs of 25% to 50% on buyers of Russian oil if the Kremlin obstructs his attempts to broker a ceasefire in Ukraine.
Trump expressed his frustration during a telephone interview with NBC News, referring to comments made by Russian President Vladimir Putin, who last week criticized Ukrainian President Volodymyr Zelenskyy's leadership.
Since his inauguration in January, Trump has shown a conciliatory approach towards Russia, though his recent comments indicate a shift towards a more aggressive stance amid stalled negotiations over the conflict that has persisted for over three years.
Trump stated, "If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia's fault ...
I am going to put secondary tariffs on oil, on all oil coming out of Russia." He elaborated that businesses purchasing oil from Russia would face significant financial penalties if his demands are not met, asserting that tariffs could be enforced within a month.
No immediate response has been issued from Moscow regarding Trump’s threats.
Historically, Russia has dismissed Western sanctions, labeling them as illegal and motivated by self-interest.
During the interview, Trump revealed plans to speak with Putin within the week.
Although the Kremlin confirmed their leaders have engaged in more than two publicly disclosed conversations recently, specifics concerning upcoming dialogues remain unannounced.
A key aspect of the ongoing discourse is the suggestion made by Putin that Ukraine could be subjected to a temporary administration to facilitate new elections potentially resulting in Zelenskyy's removal.
Trump has also previously called for new elections in Ukraine and has been critical of Zelenskyy's governance.
The announcement of potential tariffs follows Trump's recent implementation of a secondary tariff on US imports from nations purchasing oil or gas from Venezuela, indicating a willingness to adopt similar trade strategies against countries interacting with Russia, which could notably impact China and India.
Since April 2022, the United States has ceased importing Russian crude oil, reflecting existing tensions and economic sanctions related to the conflict in Ukraine.
Negotiations between Ukraine and US officials are also ongoing regarding potential agreements tied to critical minerals, as Zelenskyy has stated that legal assessments are necessary before moving forward with any propositions.
Trump's comments came after his meetings with Finnish President Alexander Stubb, who emphasized the need for a deadline to advance a Russia-Ukraine ceasefire agreement.