Tariffs on Russian Oil Buyers Could Trigger Economic Collapse, Says US Treasury Chief
US Treasury Secretary Scott Bessent warned that secondary tariffs on countries buying Russian oil including India and China could collapse Moscow’s economy and force Vladimir Putin into peace talks on Ukraine. He urged the EU to align with Washington as Trump signals a tougher ‘phase two’ sanctions plan.
Read more
US Lawmakers Target China and India with Proposed 500% Tariffs Over Russian Oil Trade
In a significant geopolitical development, US Lawmakers Target China and India with Proposed 500% Tariffs Over Russian Oil Trade. US lawmakers are intensifying pressure on China and India over their continued purchases of Russian oil. Republican Senator Lindsey Graham and Democratic Senator Richard Blumenthal are spearheading a bipartisan push for sanctions aimed at countries that, according to them, are indirectly funding Russia’s ongoing war in Ukraine.
Their proposal includes a staggering 500% tariff on imports from nations trading oil and related products with Russia a dramatic escalation in the global economic effort to isolate Moscow.
Read more