President Donald Trump declared on Sunday his preparedness to impose a second wave of sanctions on Russia. This statement was made in response to questions posed outside the White House. Trump’s remarks were made shortly after U.S. Treasury Secretary Scott Besent commented that the Russian economy could be severely damaged if the U.S. and the European Union put additional sanctions on countries importing Russian crude oil.
Trump and Vice President J.D. Vance had a significant discussion with European Commission President Ursula von der Leyen, focused on how the U.S. and the EU could collectively apply more pressure on Russia. The Trump administration has placed a 25 percent retaliatory tariff on India’s purchases of Russian oil, in addition to an already existing 25 percent tariff. This brings the total tariff on India to 50 percent, effective from August 27.
Earlier in the week, Trump announced the implementation of secondary sanctions against India for its purchase of Russian oil, pointing out that India is the biggest buyer outside of China. He also indicated that the second or third phase of sanctions had not been put in place. Several members of the Trump administration, including Besent and trade advisor Peter Navarro, have argued that India’s purchase of Russian oil is funding Russia’s war in Ukraine. India has contested the U.S. tariffs, stating its energy purchases are guided by national interests and market dynamics.