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Trump Warns of Extra Tariffs on Russian Oil Without Ukraine Deal

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The White House Watch newsletter, which provides insights into the implications of the 2024 US election on Washington and global affairs, is available for free. Recently, former US President Donald Trump expressed frustration with Russian President Vladimir Putin over delays in reaching a ceasefire agreement with Ukraine. Trump, on Sunday, suggested he might impose secondary tariffs on countries purchasing Russian oil if no agreement is reached.

This revelation highlights the White House’s growing impatience with Russia as negotiations for a resolution in Ukraine show little progress. Trump’s remarks precede his plan to impose tariffs on goods from several major US trading partners, an action set for Wednesday that he has dubbed “liberation day.” However, this move has already caused uncertainty in global markets and concern among businesses and governments.

This marks a change in Trump’s approach, as he previously criticized Ukrainian President Volodymyr Zelenskyy for hesitating to negotiate. Trump reprimanded Putin for questioning Zelenskyy’s leadership. In an interview with NBC News, Trump indicated his anger towards Putin’s attempt to undermine Zelenskyy’s credibility during negotiation attempts, stating, “That’s not going in the right location, you understand?”

Although Ukraine has agreed to a US demand for a full 30-day ceasefire, Russia has rejected this, agreeing only to a limited ceasefire concerning energy infrastructure and maritime operations in the Black Sea, and that only if sanctions on some agricultural goods are lifted.

Zelenskyy has accused Russia of violating the energy ceasefire twice since its establishment. He emphasized that pressure is the only effective measure for achieving peace with Russia.

Finnish President Alexander Stubb, after spending time with Trump at Mar-a-Lago, conveyed that Trump was losing patience with Putin. During a visit to London, Stubb suggested setting an April 20 deadline for an unconditional 30-day ceasefire involving land, sea, and air. This date coincides with Easter celebrations for both western and eastern Christian churches, an unusual occurrence.

Stubb noted Russia’s continued stalling and called for exposing what he perceives as a bluff, asserting that Russia does not currently desire peace and must be compelled to accept it.

Trump has hinted at imposing more severe economic measures on Russia and its oil buyers to intensify pressure on Putin. He proposed secondary sanctions on countries purchasing Russian oil, including a substantial tariff on oil, while detailing unclear plans for these sanctions. Additionally, Trump threatened similar tariffs on Iran regarding its nuclear program and hinted at military action if Iran failed to reach an agreement.

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