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US President Donald Trump announced Monday that the US will place harsh tariffs on Russia’s oil trading partners if no peace deal is reached between Russia and Ukraine within 50 days.
Trump declined to say which particular states would be targeted during a White House press conference with NATO General Secretary Mark Rutte. The president suggested imposing a 100 percent penalty on third party countries as a way to disincentivize trade with Russia if the nation fails to broker peace. Such tariffs on top of existing import taxes could especially impact China, which imports 47 percent of Russia’s crude oil. India could also be affected, importing around 38 percent of Russian oil exports, as well as Brazil and Türkiye.
The announcement came during a subsequent announcement that the US and NATO allies reached an agreement to finance missile defense systems and other weapons to bolster the Ukrainian military.
While Ukrainian President Volodymyr Zelenskyy welcomed the move, others have criticized the 50-day delay as giving Russian President Vladimir Putin the go-ahead to continue the Russian army’s summer offensive. Russian markets did not respond adversely to Trump’s threat and the government seemed prepared for harsher sanctions as the Moscow Exchange rose 2.7 percent. Aerial bombing in Ukraine continued overnight into Tuesday.
Last week, US senators announced a bipartisan bill plan which would authorize tariffs of up to 500 percent on goods from nations who purchase Russian oil, gas, and uranium. Trump is said to have dismissed the congressional effort, expressing a preference for his proposal instead.
The announcement marks a shift in Trump’s attitude toward Russia. Early this year, Trump blamed Ukraine for the ongoing war, calling President Zelenskyy a “dictator without elections,” and maintained close personal contact with Putin over phone calls. However, Putin and Trump’s relationship appears to have deteriorated recently, with Trump accusing Putin of disingenuousness during peace talks. Last week, during ongoing talks between the two, Russia attacked Ukraine with a record number of drones. More than 230 civilians were killed in Ukraine last month, the highest number in three years.
The European Court of Human Rights last week condemned Russian military actions extending back to its 2014 invasion of Crimea, accusing the nation of substantial human rights violations against civilians. The Council of Europe and the Ukrainian government are currently advancing the establishment of a special tribunal to oversee Russia’s “crimes of aggression.”
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Trump declined to say which particular states would be targeted during a White House press conference with NATO General Secretary Mark Rutte. The president suggested imposing a 100 percent penalty on third party countries as a way to disincentivize trade with Russia if the nation fails to broker peace. Such tariffs on top of existing import taxes could especially impact China, which imports 47 percent of Russia’s crude oil. India could also be affected, importing around 38 percent of Russian oil exports, as well as Brazil and Türkiye.
The announcement came during a subsequent announcement that the US and NATO allies reached an agreement to finance missile defense systems and other weapons to bolster the Ukrainian military.
While Ukrainian President Volodymyr Zelenskyy welcomed the move, others have criticized the 50-day delay as giving Russian President Vladimir Putin the go-ahead to continue the Russian army’s summer offensive. Russian markets did not respond adversely to Trump’s threat and the government seemed prepared for harsher sanctions as the Moscow Exchange rose 2.7 percent. Aerial bombing in Ukraine continued overnight into Tuesday.
Last week, US senators announced a bipartisan bill plan which would authorize tariffs of up to 500 percent on goods from nations who purchase Russian oil, gas, and uranium. Trump is said to have dismissed the congressional effort, expressing a preference for his proposal instead.
The announcement marks a shift in Trump’s attitude toward Russia. Early this year, Trump blamed Ukraine for the ongoing war, calling President Zelenskyy a “dictator without elections,” and maintained close personal contact with Putin over phone calls. However, Putin and Trump’s relationship appears to have deteriorated recently, with Trump accusing Putin of disingenuousness during peace talks. Last week, during ongoing talks between the two, Russia attacked Ukraine with a record number of drones. More than 230 civilians were killed in Ukraine last month, the highest number in three years.
The European Court of Human Rights last week condemned Russian military actions extending back to its 2014 invasion of Crimea, accusing the nation of substantial human rights violations against civilians. The Council of Europe and the Ukrainian government are currently advancing the establishment of a special tribunal to oversee Russia’s “crimes of aggression.”
The post Trump threatens Russia trade partners with severe tariffs if nation fails to make peace appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.