Donald Trump, the U.S. President, confirmed on Sunday his readiness to implement further sanctions targeting Russia. The statement was made outside the White House. This follows a warning from U.S. Treasury Secretary Scott Besent, who warned of potential economic repercussions for Russia if additional sanctions were levied by the U.S. and the European Union against countries buying Russian crude oil.
Trump, along with Vice President J.D. Vance, held discussions with European Commission President Ursula von der Leyen, exploring collaborative strategies to increase pressure on Russia. The U.S. government has imposed a 25 percent retaliatory tariff on India for its purchase of Russian oil, adding to a pre-existing 25 percent tariff. This results in a combined tariff of 50 percent on India, effective since August 27.
Last week, Trump revealed secondary sanctions against India for importing Russian oil, highlighting India as the biggest purchaser outside China. He also indicated that phase two or three sanctions were yet to be implemented. Various Trump administration officials, including Besent and trade advisor Peter Navarro, have suggested that India’s oil purchases contribute to the financing of Russia’s war in Ukraine. India has disputed the U.S. tariffs, justifying its crude oil acquisitions on grounds of national interest and market forces.