US President Donald Trump has threatened to impose secondary tariffs of 25% to 50% on all Russian oil exports if a ceasefire deal is not reached in Ukraine within a month.
Trump’s warning comes after Russian President Vladimir Putin questioned Ukrainian President Volodymyr Zelenskyy’s leadership, which Trump described as “not going in the right location”.
Trump plans to speak with Putin this week to negotiate a deal to end the conflict in Ukraine.
The US President has been critical of the war, calling it “ridiculous,” and has made ending it a central foreign policy goal since taking office on January 20.
Putin has suggested that Ukraine could be placed under temporary administration, allowing for new elections and key agreements.
However, Trump responded by threatening tariffs on Russian oil, stating that if a deal is not reached, “I am going to put secondary tariffs on oil, on all oil coming out of Russia.”
The proposed tariffs would not only affect Russian oil exports but also prevent companies doing business with Russia from operating in the US.
“That would be, that if you buy oil from Russia, you can’t do business in the United States,” Trump said.
Trump emphasized that his anger towards Putin would dissipate quickly if he takes the right actions.