US President Donald Trump said on Sunday that he is willing to support a new bill that would punish Russia’s trading partners as the Ukraine war continues. He told reporters the Republican Party will introduce legislation that will make it difficult for any nation to do business with Moscow.
Trump argued that countries buying Russian goods, especially energy products, are helping Russia continue the war in Ukraine. He said these nations share responsibility for “fuelling” the conflict.
Before leaving Florida, Trump said, “The Republicans are putting in legislation that is very tough sanctioning, etcetera, on any country doing business with Russia.”
India and China on the radar
Trump has repeatedly criticised India and China for their trade with Russia. He has even called them “primary funders” of Russia’s war in Ukraine. China has avoided penalties despite warnings, but Trump imposed a 25 per cent “penalty” tariff on India in August. This pushed India’s total tariff burden from the US to 50 per cent.
Trump also said he may consider adding Iran to the list of targeted countries.
Mixed tariff signals from Washington
Even as he considers new sanctions and tariffs, Trump removed duties on more than 20 food products on Friday. The move came as Americans worry about rising grocery prices. The decision offered some relief to India, since Indian exporters of tea, coffee, spices and cashew nuts faced steeper tariff hikes than exporters from the EU and Vietnam when duties were doubled earlier.
India and Russia deepen economic ties
Despite US pressure, India and Russia continue to expand their trade. On Sunday, both countries reaffirmed their goal of reaching $100 billion in bilateral trade by 2030. They also reviewed progress on the proposed free trade agreement in goods between India and the Eurasian Economic Union (EAEU).
A commerce ministry statement reported by HT said, “The discussions built upon the outcomes of the India-Russia Working Group on Trade and Economic Cooperation, with a continued focus on diversification, strengthening resilient supply chains, ensuring regulatory predictability and promoting balanced growth in the partnership.”
What the proposed bill would do
According to Bloomberg, the bill would allow Trump to impose tariffs as high as 500 per cent on imports from any country that buys Russian energy and does not support Ukraine. This would significantly raise the economic cost of doing business with Moscow.
Earlier, Trump hesitated to back this bill because he was trying to negotiate a peace deal with Russian President Vladimir Putin. Those talks failed. Now Trump is considering the bill as another way to pressure Russia into agreeing to a ceasefire or broader peace arrangement.