President Donald Trump threatens steep tariffs on Russian oil, targeting nations buying it, as peace talks with Ukraine stall.Speaking recently, he warns of 25% to 50% duties if Vladimir Putin delays ending the war that began in 2022.Trump aims to pressure Moscow, which exports 7.5 million barrels daily, earning $180 billion yearly despite sanctions.Russias economy leans heavily on oil, redirected to China and India after Western markets shrank.Trump plans to confront Putin this week, frustrated by Moscows push for a transitional Ukrainian government sidelining Volodymyr Zelensky.This follows a fragile 30-day Black Sea truce, now jeopardized by Russias demand to lift banking sanctions.Trumps Tariff Threat Targets Russias Oil as Ukraine Talks Falter Odessa and its port.
(Photo Internet reproduction)Trumps Tariff Threat Targets Russias Oil as Ukraine Talks FalterMeanwhile, Trump extends his tariff strategy globally, targeting Irans 1.4 million daily barrels over its nuclear program.He also pressures Venezuela, producing 921,000 barrels daily, to curb migration, revoking oil licenses and imposing duties starting April 2.
These moves ripple through markets, with oil prices ticking up 1% recently.Ukraine Peace Talks Teeter as Uncertainty Clouds ProgressCritics question the approach, noting 55% of Americans see Trump fixating too much on tariffs.
Targeting Venezuela risks boosting Russias oil demand, experts warn, as China and India pivot.Russias shadow fleet already dodges sanctions, complicating enforcement.
Still, Trump doubles down, recalling his first terms 5,000-plus sanctions.The stakes loom large as Trump balances economic leverage with diplomacy.
Success could halt the Ukraine war, now costing countless lives and displacing millions.Failure might spike global oil prices and tensions.
With OPEC+ planning a 135,000-barrel increase in May, businesses watch closely.