The US will put pressure on the G7 countries to sharply increase tariffs against India and China for purchasing Russian oil — this is how the States is trying to force Moscow to enter into peace negotiations with Ukraine.
This was reported to the Financial Times by four sources.
Today, the G7 finance ministers will discuss the US proposal for a new package of measures. Earlier this week, the US President Donald Trump called on the EU to impose tariffs of up to 100% on China and India, and is now expanding the pressure to include G7 allies.
“Chinese and Indian purchases of Russian oil are funding Putin’s war machine and prolonging the senseless killing of the Ukrainian people. Earlier this week, we made it clear to our EU allies that if they truly want to end the war in their own backyard, they should join us in implementing effective tariffs that will be lifted the day the war ends,” a US Treasury Department official said.
The representative declined to give exact figures for the planned tariffs, but sources told the FT that the US had offered between 50% and 100%.
The EU officials are aware that imposing such high tariffs on two key trading partners will be difficult due to the economic consequences and likely retaliation from Beijing, the media reported. The bloc hopes to conclude a trade deal with New Delhi in the coming weeks.
But Brussels hopes to convince the US that a similar effect can be achieved through other measures — for example, tougher sanctions against Russian energy companies and bringing forward the date from 2027 when member states must stop buying Russian oil and gas.
That, three European officials said, would require Trump to pressure Hungary and Slovakia — two countries with pro-Russian leaders who continue to buy Russian oil by pipeline and have previously blocked tougher EU sanctions.
- In early August, Trump imposed an additional 25% tariff on imports from India for its purchase of oil from Russia.
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