US Treasury Secretary Scott Bessent mentioned that coordinated motion by Washington and the European Union towards nations buying Russian oil might collapse Russia’s financial system and drive President Vladimir Putin to the negotiating desk.
“If the US and the European Union can enhance sanctions and impose secondary tariffs on international locations shopping for Russian oil, the Russian financial system will collapse completely. That might be sufficient to deliver President Putin to the negotiating desk,” he mentioned.
Bessent added that the US is ready to step up stress on Russia, but it surely wants European companions to observe go well with.
“We’re ready to extend stress on Russia, however we want our European companions to observe us”, he added.
Trump Alerts ‘Second Stage’ Of Sanctions Towards Moscow
Bessent’s remarks got here after US President Donald Trump on Sunday introduced that he’s prepared to maneuver into what he described because the “second stage” of sanctions towards Russia, signaling preparations for a brand new wave of financial restrictions geared toward pressuring Moscow to finish the battle in Ukraine.
Bessent’s feedback observe Trump’s latest name urging European international locations to cease importing Russian oil, saying the revenues are funding Moscow’s battle in Ukraine. Trump made the enchantment throughout a name with leaders of the ‘Coalition of the Keen,’ led by French President Emmanuel Macron, which reportedly mentioned providing Ukraine safety ensures in case of a peace take care of Russia.
Trump’s 50% Tariff On India
The USA has already imposed vital penalties, together with a hefty 50 per cent tariff on India that took impact on August 27. Trump had initially levied a 25 per cent tariff, citing unfair commerce practices, and later added one other 25 per cent over New Delhi’s buy of Russian oil.
India has criticized the US choice to impose a 50% tariff, saying it’s being unfairly singled out whereas many European international locations proceed large-scale imports of Russian oil and gasoline. New Delhi identified that Europe traded items value EUR 67.5 billion with Russia in 2024 and EUR 17.2 billion in providers in 2023, regardless of the battle. Indian officers argue this exhibits double requirements, as Europe has not confronted comparable restrictions regardless of ongoing enterprise with Moscow.