US Tariff: America has once again indicated to adopt a tough stance. US Finance Minister Scott Besant has made a big claim on the purchase of Russian oil, saying that any country that continues to buy oil from Russia can impose a tariff of at least 500 percent. His statement is being seen as economic pressure related to the Ukraine war.
Giving the example of India in his statement, Scott Besant said that after the start of Ukraine war, India had increased the purchase of Russian oil. However, now this purchase has almost stopped. Explaining the reason behind this, he said that India changed its policy after President Donald Trump imposed 25 percent tariff on India. Through US Tariff, America wants to send a message that it is in no mood to give any relaxation regarding economic cooperation with Russia.
The US Finance Minister says that India’s example shows how US pressure and tariff policy can force a country to change its decisions. According to him, the purpose of imposing heavy tariffs on countries purchasing oil from Russia is to weaken Russia’s economic capacity, so that it can have an impact on the Ukraine war.
This statement comes at a time when the energy market is already facing instability globally. This warning of America regarding US Tariff is being considered as a clear signal for those countries which are still dependent on Russian oil.
