Washington, D.C., USA: The United States is escalating pressure on India and China due to their continued purchase of Russian oil. The Trump administration has suggested imposing steep tariffs, ranging from 50% to 100%, on goods imported from these nations.

G7 members are urging collective action on this matter, with finance ministers scheduled to hold a virtual meeting to address the issue. The U.S. contends that oil sales remain a primary source of funding for Russia’s military efforts in Ukraine. A spokesperson from the U.S. Treasury Department noted that Russia has been able to sustain its military campaigns partly because India and China continue buying Russian oil.

According to U.S. officials, these tariffs are designed to push Russia toward peace negotiations and reduce its revenue streams. However, the European Union (EU) has strongly criticized the proposed measures. EU representatives in Brussels have raised concerns that imposing tariffs could damage trade relations with India and China, potentially causing significant economic setbacks and triggering retaliatory actions. In return for such tariffs, the EU hopes to accelerate its plan to cut dependence on Russian energy ahead of its 2027 target.