The U.S. is ready to broaden tariffs targeting buyers of Russian oil to hit at the revenue Moscow needs for the war in Ukraine, a U.S. official said on Tuesday.
Dialing in to talks between U.S. and EU officials, President Donald Trump raised the possibility of tariffs between 50% and 100% on oil buyers such as China and India, said an official, who was not authorized to discuss these details publicly.
“The source of the money for the Russian war machine is oil purchases by China and India. If you do not get at the source of the money, there’s no way to stop the war machine,” he added.
Although Trump signaled he is “ready to go,” Washington stressed the importance of acting in tandem with Europe.
“We want to get serious. We want to get this war over with, and so we’re strongly encouraging our European friends to get moving,” a U.S. delegate said on Tuesday.
