Washington,September 13(HS):

The United States has called on Group of Seven (G7) nations and European Union allies to impose punitive tariffs on countries that continue to buy discounted Russian crude oil, singling out India and China as key targets. During a recent G7 finance ministers’ conference call, US Treasury Secretary Scott Bessent emphasized the need for a unified economic front to sever the revenue streams fueling Russia’s war in Ukraine. The ministers agreed to accelerate discussions on using frozen Russian assets to fund Ukraine’s defense and consider a broad range of economic measures, including further sanctions and tariffs on nations enabling Russia’s military efforts.

President Donald Trump previously raised tariffs on Indian imports by an additional 25%, doubling the total duties to 50%, aiming to pressure New Delhi into halting its Russian oil purchases, a move that has strained US-India trade relations. However, similar tariffs have not been applied against China amid ongoing trade negotiations. The US administration stressed that coordinated international pressure is critical to end Putin’s aggression and urged allies to follow suit.

The G7 meeting, chaired by Canadian Finance Minister Francois-Philippe Champagne, also reviewed various sanctions and trade measures to increase economic pressure on Russia, underscoring the importance of collective action to bring Moscow to the negotiation table and end the conflict in Ukraine.

This call for tariffs reflects the Biden administration’s broader strategy to disrupt Russia’s financing of war while highlighting the geopolitical tension around global energy trade and alliances, with India defending its energy security needs amid these pressures .

Hindusthan Samachar / Jun Sarkar