As per Trump, Russia’s trading partners are responsible for fuelling the war against Ukraine, especially consumers of Russian energy.
As the Ukraine war rages on, US President Donald Trump has stated he would be open to backing a bill that will sanction Russia’s trading partners. Speaking to reporters on Sunday, the Republican leader stated a legislation will be put forth by his party which would make it tough for any country to do business with Moscow.
As per Trump, Russia’s trading partners are responsible for fuelling the war against Ukraine, especially consumers of Russian energy.
“The Republicans are putting in legislation that is very tough sanctioning, etcetera, on any country doing business with Russia,” Trump told reporters before leaving Florida.
This list includes India and China, which have already been under major scrutiny by the US President for their trade with Russia. He has in the past listed India and China as “primary funders” of Russia’s war in Ukraine.
While China has not been penalised despite threats, Trump has imposed a 25 per cent “penalty” tariff on India for “fuelling the war in Ukraine”, taking the total tariffs on the country to 50 per cent in August.
While New Delhi and Beijing are more or less confirmed names on the list, Trump told reporters he may contemplate adding Iran to the list.
As Trump contemplates adding more sanctions and tariffs, the US President on Friday removed tariffs on over 20 food products, including beef, as consumer concerns mount over rising grocery prices. This removal brings relief for India as Indian exporters of tea, coffee, spices and cashew nuts were hit harder after the president doubled tariffs, as opposed to exporters from EU and Vietnam.
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Meanwhile, India and Russia continue to increase their trade. On Sunday, both nations moved their resolve to achieve $100 billion bilateral trade by 2030 and reviewed next steps for the India-Eurasian Economic Union (EAEU) free trade agreement in goods.
“The discussions built upon the outcomes of the India-Russia Working Group on Trade and Economic Cooperation, with a continued focus on diversification, strengthening resilient supply chains, ensuring regulatory predictability and promoting balanced growth in the partnership,” said the statement from the commerce ministry, as reported by HT.
What would the bill bring in?
As per a report by Bloomberg, the bill, if passed, will allow Trump to impose tariffs up to 500 per cent on imports from countries that buy Russian energy products and are not supporting Ukraine.
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Earlier on, Trump was hesitant to support this bill, as he made efforts with his Russian counterpart Vladimir Putin to make peace and come to a ceasefire agreement with Ukraine.
However, as these talks failed, Trump is now contemplating this massive sanction bill to try and bring Russia closer to a peace deal.
The article originally appeared on Hindustan Times
