Russia’s energy sector is the backbone of its economy, and its targeting will be affected by Moscow, but it would have a greater impact on world markets.
Donald Trump threatened Russia with new financial sanctions and said he was angry by recent statements by Russian President Vladimir Putin, escalating his rhetoric, as talks have made no real progress towards a real truce in Ukraine.
On Friday, Putin demanded a “temporary governance” in Ukraine under the auspices of the United Nations, which would essentially lead to the removal of Ukrainian President Volodimir Zelenski.
On Sunday, Trump told NBC News that these statements were unacceptable, as they indicate that there would be no agreement for a long time. “One could say that I was very angry, furious,” he said, when “Putin began to question Zelenski’s credibility.” He added that if Russia could not reach an agreement, it would impose additional duties.
“If there is no agreement, and if I think Russia is to blame,” Trump said, “anyone who buys oil from Russia will not be able to sell its product, any product, not just oil, in the United States.”
According to the Wall Street Journal, Trump’s new threats against Russia mark a shift from his previous attitude in favor of Putin, especially after the tension between Trump and Zelenski, which led to an explosive controversy at the Oval Office. The Ukrainian leader had urged the US not to trust Putin, and Trump replied that Kiev had to accept that he was in a weak negotiating position, three years after the general Russian invasion.
Trump said US officials have conveyed his dissatisfaction to Russia and that he is expecting to talk to Putin later in the week.
His criticism comes after the last rounds of talks with Moscow, which the White House has generally described as successful, but have not made significant progress. Moscow and Kiev said they agreed to cease air raids against energy infrastructure in both countries, but the attacks continue, although with less intensity.
The Trump government also tried to formalize a truce in the Black Sea, but Moscow has tried to link the agreement with various demands, including lifting sanctions. Statements issued after talks from Washington and Moscow showed great differences, leading some former US diplomats to wonder if they had attended the same meetings.
Following Russia’s initial invasion of Ukraine, the Biden government imposed significant sanctions on Russia, but avoided aggressively targeting Russian oil exports, fearing a sharp increase in world prices. Trump threatened with sanctions against Russia shortly after his swearing -in in January, but there is little evidence that he has taken action.
Glenn Howard, president of the Saratoga Foundation, a Washington -based thought tank, said Trump’s advisers who have a harsh stance on Russia seems to be influenced by Russian delay in negotiations.
Trump seems to be more and more disturbed by the Kremlin, according to Howard, who pointed out Trump’s post on Truth Social on Saturday, referring to “Russian aggression” and Chinese expansion as a justification for American strategic interest in Greenland. Howard described this phrase as an unusual sharp comment on Moscow.
Although Trump did not give specific details on Sunday on how the additional duties in Russian oil would work in practice, his statements come after earlier this month announced that the US would impose additional tariffs on countries that buy oil or gas from Venezuela.
These 25% will be added to existing tariffs, including the 20% imposed on China this year. This would mean 45% total duties for China, the third largest US partner in the US.
A similar move against Russia would have a greater impact on world markets, as Russia is one of the leading oil producers.
Russia’s energy sector is the backbone of its economy, and its targeting will hit Moscow more than the other sanctions imposed by the West so far. Oil and gas revenue corresponds to more than a third of the Russian federal budget in recent years.
“Russia’s most important sector is under much milder penalties, so Moscow has managed to continue to win these exports,” said Edward Fisman, a former State Department official on sanctions. “If Trump is serious about putting pressure on Russia, he will do so by targeting Russian oil.”
Although you will hit Russia’s economy, such a measure could also raise gasoline prices for US consumers and destabilize oil -dependent economies in the Middle East and Africa.
However, some signs of global oil over -supply may give the Trump government maneuvering. The price of Brent Crude, of the world reference index, ranges around $ 70 a barrel in recent weeks, reduced by more than $ 80 at the beginning of the year.
The imposition of additional duties seems to be a new approach to the rapidly growing arsenal of the global economic controversy. It combines tariffs, one of Trump’s favorite tools, with additional sanctions imposed on other countries or non -US companies.
However, in order to operate such an inept tool as additional duties, buyers of Russian slow – such as India and China – they have to consider the threat reliable, Fisman said. “They have to be motivated to work together,” he added.
Source :Skai
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