Saying he’s “pissed off” at Russian President Vladimir Putin, U.S. President Donald Trump has threatened to impose secondary tariffs on buyers of Russian %CrudeOil and energy products.
In an interview with NBC News, Trump said he is upset with a lack of progress on a peace treaty between Russia and Ukraine, blaming Putin for continuing to wage war rather than seek a truce.
As such, Trump said the U.S. would impose a new 50% tariff on any countries that purchase Russian oil.
“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,” said Trump during the interview.
The comments mark a major shift in Trump’s messaging toward Russia over a peace deal with Ukraine and threaten major new tariffs on U.S. imports from India, China, and Turkey, the biggest buyers of Russian crude.
“If you buy oil from Russia, you can’t do business in the United States,” Trump added.
In his own recent media interview, Putin vowed to “finish off” Ukrainian troops, and Russian forces have continued to pound Ukrainian targets despite the U.S. pushing for a ceasefire.
Under former U.S. President Joe Biden, America banned its Russian oil imports in 2022, and together with its G7 partners imposed a $60 U.S. per barrel price cap on supplies delivered to other countries.
Yet the previous administration deliberately avoided directly targeting Russian trade partners to mitigate price shocks to the global oil market. Now Trump is threatening to take that step.
India, China, and Turkey imported a combined three million barrels per day of Russian crude oil in February, or 93% of its total energy exports.
The U.S. announced on March 25 that Russia and Ukraine had agreed to avoid military strikes on Black Sea shipping and energy infrastructure, in a move it called a first step towards peace.
However, a separate statement from Russia demanded sanctions waivers for its agricultural exports before any agreement was put in place.
Both Russia and Ukraine have since accused one another of ongoing attacks, leaving uncertainty over the prospect of a meaningful ceasefire.
Trump said he plans to speak with Putin again this week.
