New York : As he prepares to meet Russia’s President Vladimir Putin with renewed optimism, US President Donald Trump is asking Republican leaders to hold off on legislation that would impose crippling penalties on countries buying oil from Moscow. Consequently, Trump warns GOP on Russian oil tariff, citing potential impacts on diplomatic relations.
Trump said on Thursday, after speaking with Putin, “It may not be perfect timing” for the legislation, which Senate Republican leader John Thune planned to move with a 500 percent punitive tariff. Furthermore, Trump cautioned GOP that the bill might interfere with ongoing diplomatic efforts.
“I’m going to speak to him and the [House] Speaker, Mike Johnson,” he told reporters, “and I’ll tell them about this, and we’ll make the right determination,” since lawmakers had not known about his diplomatic reboot with Putin to end the Ukraine War.
GOP Leaders Push for Punitive Russian Oil Legislation
Earlier, Thune said the “time has come” to advance legislation imposing a 500 percent tariff on countries buying Russian oil, far higher than the 25 per cent tariff Trump imposed on India. Meanwhile, he added that he and Senator Lindsey Graham crafted the legislation and received bipartisan support.
Graham said 84 other senators backed the bill, and 100 members of the House supported a similar measure. Thus, Trump’s warning to GOP on the Russian oil tariff highlights concerns about its impact on international energy markets.
Potential Global Impact on US Diplomacy
Although the legislation would give Trump discretion over implementation, lawmakers planned to apply it across the board to all countries. If enforced, it could severely disrupt US diplomacy, as the European Union, China, and Turkiye also import energy from Russia.
The US ran a $5.2 billion trade with Russia, creating a $2.4 billion deficit.
“We’ll see what happens,” Trump said regarding his upcoming Budapest meeting with Putin in the next two weeks.
“This may be such a productive call that we’re going to end up [with peace]. Moreover, we want to get peace,” he added.
Trump expressed optimism about prospects for peace in Ukraine after his discussion with Putin, during which they agreed to meet again after their August summit in Alaska failed to produce progress.
Trump Applies Russian Oil Tariff Only to India
Trump has applied the punitive Russian oil tariff only to India, sparing other Moscow customers. In addition, he said on Wednesday that Prime Minister Narendra Modi assured him India would wind down Russian oil purchases.
“There will be no oil; he’s not buying his oil from Russia. It started—you know, you can’t do it immediately, it’s a little bit of a process, but the process will finish soon,” Trump said.
India has not confirmed that the conversation took place or that it provided such an assurance. However, the External Affairs Ministry said, “The current Administration has shown interest in deepening energy cooperation with India. Discussions are ongoing.”
–IANS
