President Donald Trump threatens steep tariffs on Russian oil, targeting nations buying it, as peace talks with Ukraine stall.
Speaking recently, he warns of 25% to 50% duties if Vladimir Putin delays ending the war that began in 2022.
Trump aims to pressure Moscow, which exports 7.5 million barrels daily, earning $180 billion yearly despite sanctions.
Russia’s economy leans heavily on oil, redirected to China and India after Western markets shrank.
Trump plans to confront Putin this week, frustrated by Moscow’s push for a transitional Ukrainian government sidelining Volodymyr Zelensky.
This follows a fragile 30-day Black Sea truce, now jeopardized by Russia’s demand to lift banking sanctions.
Trump’s Tariff Threat Targets Russia’s Oil as Ukraine Talks Falter – Odessa and its port. (Photo Internet reproduction)
Trump’s Tariff Threat Targets Russia’s Oil as Ukraine Talks Falter
Meanwhile, Trump extends his tariff strategy globally, targeting Iran’s 1.4 million daily barrels over its nuclear program.
He also pressures Venezuela, producing 921,000 barrels daily, to curb migration, revoking oil licenses and imposing duties starting April 2. These moves ripple through markets, with oil prices ticking up 1% recently.
Ukraine Peace Talks Teeter as Uncertainty Clouds Progress
Critics question the approach, noting 55% of Americans see Trump fixating too much on tariffs. Targeting Venezuela risks boosting Russia’s oil demand, experts warn, as China and India pivot.
Russia’s “shadow fleet” already dodges sanctions, complicating enforcement. Still, Trump doubles down, recalling his first term’s 5,000-plus sanctions.
The stakes loom large as Trump balances economic leverage with diplomacy. Success could halt the Ukraine war, now costing countless lives and displacing millions.
Failure might spike global oil prices and tensions. With OPEC+ planning a 135,000-barrel increase in May, businesses watch closely.
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