On Sunday, U.S. President Donald Trump stated his readiness to impose another round of sanctions against Russia. This announcement came during a discussion held outside the White House. Trump’s statement followed remarks made by U.S. Treasury Secretary Scott Besent, who warned of the potential economic consequences for Russia if the U.S. and the European Union escalated sanctions on countries that buy crude oil from Russia.
Trump and Vice President J.D. Vance held a productive conversation with European Commission President Ursula von der Leyen to explore how the U.S. and EU could work together to increase pressure on Russia. The Trump administration has already imposed a 25 percent retaliatory tariff on India for its Russian oil imports, adding to a previous 25 percent tariff. This has led to a total tariff of 50 percent on India, effective from August 27.
Last week, Trump mentioned the implementation of secondary sanctions against India, the largest buyer of Russian oil outside of China, and suggested that he had not yet launched phases two or three of sanctions. Officials within the Trump administration, including Besent and trade advisor Peter Navarro, have expressed the view that India’s purchase of Russian oil is supporting Russia’s war in Ukraine. India has criticized the U.S. tariffs, arguing that its energy purchases are driven by national interests and market conditions.