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Trump threatens 25-50% secondary tax on Russian oil

Sat Mar 29 2025
Eric Whitman (340 articles)
Trump threatens 25-50% secondary tax on Russian oil

The President of the United States, Donald Trump, has issued a warning regarding the imposition of secondary tariffs on Russian oil, potentially ranging from 25% to 50%. US President Donald Trump expressed significant frustration with Russian leader Vladimir Putin on Sunday, as reported by NBC, indicating a notable shift in rhetoric as Washington aims to resolve the conflict in Ukraine.

NBC’s Kristen Welker reported that Trump reached out to her to convey his frustration regarding Putin’s remarks about Ukrainian President Volodymyr Zelensky’s prospects as a leader, a sentiment that Trump has previously echoed himself. On her NBC program “Meet The Press” this past Sunday, Welker cited verbatim an early-morning telephone dialogue with the president. Trump stated that “if Russia and I cannot reach an agreement to halt the violence in Ukraine, and if I believe Russia is to blame,” he would implement “secondary tariffs on all oil exports from Russia.”

Welker reported that Trump expressed to her, “I was very angry, pissed off” regarding Putin’s recent remarks concerning Zelensky’s credibility and discussions about potential new leadership in Ukraine. Since assuming office, Trump has advocated for a swift resolution to the protracted conflict that has persisted for over three years. However, his administration has not achieved a significant breakthrough, despite engaging in discussions with both parties involved. Putin dismissed a collaborative initiative from the US and Ukraine aimed at establishing a 30-day ceasefire, and on Friday proposed the removal of Zelensky from his position as a component of the peace negotiations.

Ukraine has alleged that Russia is prolonging negotiations without any genuine intent to cease its military operations, as evidenced by a recent assault on the northeastern border city of Kharkiv over the weekend. Trump conveyed to NBC that Putin is aware of his anger; however, he asserted that he maintains “a very good relationship with him” and that “the anger dissipates quickly… if he does the right thing.” The recent warming of relations between Washington and Moscow, coinciding with Trump’s return to office and his implications of reducing support for Kyiv, has provided Russia with a strategic advantage on the battlefield amid its struggling invasion efforts.

Putin, who has maintained his position for 25 years and has been re-elected in contests lacking genuine competition, has frequently challenged Zelensky’s “legitimacy” as president, particularly following the conclusion of the Ukrainian leader’s initial five-year term in May 2024. According to Ukrainian legislation, the conduct of elections is halted during periods of significant military engagement. In this context, Zelensky’s domestic adversaries have collectively asserted that no voting should occur until the resolution of the ongoing conflict.

Trump has experienced tumultuous interactions with Zelensky, labeling him a “dictator” and engaging in a public confrontation with him at the White House last month. “For an extended period, America’s proposal for an unconditional ceasefire has remained unaddressed by Russia,” Zelensky stated during his evening address on Saturday. “A ceasefire might have been achieved by now had there been substantial pressure exerted on Russia,” he remarked, expressing gratitude to those nations “that recognize this” and have intensified sanctions against the Kremlin.

Both Moscow and Kyiv have reached a consensus on the framework for a Black Sea truce after discussions with US officials earlier this week. However, Russia has indicated that the agreement will not be implemented until Ukraine’s allies remove specific sanctions. In a discussion regarding the potential implications of secondary tariffs, Trump articulated to NBC that purchasing oil from Russia would preclude any business operations within the United States. “A 25 percent tariff will be imposed on all oil, with an additional tariff ranging from 25 to 50 points on the same commodity,” he stated, lacking further elaboration.

Eric Whitman

Eric Whitman

Eric Whitman is our Senior Correspondent who has been reporting on Stock Market for last 5+ years. He handles news for UK and Europe. He is based in London

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