US President Donald Trump has announced plans to impose secondary tariffs of 25 to 50 per cent on Russian oil if Moscow continues to obstruct his efforts to end the war in Ukraine. Speaking to NBC News on Sunday, Trump stated that the tariffs could be implemented within a month if a ceasefire is not reached.
Trump frustrated with Putin
Trump told NBC News that he was angry and ‘pissed off’ at Russian President Vladimir Putin, particularly after Putin questioned the credibility of Ukrainian President Volodymyr Zelenskyy’s leadership.
The former US leader emphasised his intention to speak with Putin this week to discuss potential resolutions. He has consistently vowed to end what he describes as a “ridiculous” war in Ukraine, making it a key focus of his 2024 presidential campaign.
The conflict in Ukraine has taken a new turn with Trump advocating for new elections in Ukraine and even labeling Zelenskyy a dictator. Meanwhile, Putin suggested last week that Ukraine could be placed under temporary administration to facilitate new elections and sign key agreements— a move that could effectively push Zelenskiy out of power.
Trump’s trade warning
Trump made it clear that if Russia is found responsible for blocking a peace deal, he will move swiftly with economic measures. “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,” Trump told NBC. He added that these tariffs would also extend to countries purchasing Russian oil, barring them from conducting business in the United States.
Despite his tough stance, Trump claimed to maintain a “very good relationship” with Putin and noted that his frustration “dissipates quickly … if he does the right thing.” With rising tensions and a potential economic standoff looming, Trump’s proposed tariffs could significantly impact global oil markets and US- Russia relations.
(With Reuters inputs)