By Pragati Saha
G7 countries have been requested by the US to implement tariffs on countries buying oil from Russia, claiming that only a joint effort that stops funding to Moscow’s war efforts at the source can create enough pressure to stop “ the senseless killing.”
US Trade Representative Jamieson Greer and the Treasury Secretary Scott Bessent had a word with G7 ministers on Friday. During the call, they repeated that it was President Donald Trump’s call to the bloc partner to impose tariffs on countries purchasing oil from Russia.
Canada’s Minister of Finance and National Revenue, François-Philippe Champagne, held a meeting with G7 finance ministers to discuss various new ways by which pressure can be put on Russia to end its war with Ukraine. The G7 is a group of rich, developed nations comprising the United States, Canada, Germany, France, Italy, Japan, and the United Kingdom.
A US Treasury Department official said that in today’s call with G7 ministers, Secretary Bessent emphasized that it was President Trump’s message to our G7 allies that if they genuinely want to stop the war with Ukraine, they need to team up the United States to introduce tariffs on the nations that are purchasing oil from Russia, following the call.
No country was named in the statement. They often criticized India and China for buying oil from Russia even when there is no tariff was introduced in Beijing for it.
Tariff was doubled by the US on Indian Goods to a massive 50 percent, which includes additional charges of 25 percent on the purchase of Russian Crude Oil by India, a step which New Delhi narrated as unfair, unjustified, and unreasonable.
It has been insisted by India that its purchase of energy, such as oil from Russia, is fully based on market dynamics and national interest. From March onwards, there has been talk happening between India and the United States about bilateral trade. Still, discussions of five rounds have been held.
Between both the two countries, relations about trade had been taking place due to the high tariff. Earlier a plan had been announced by both the two countries to finalize the initial phase of US-India bilateral trade by fall 2025.
When questioned in an interview on Friday with ‘Fox and Friends’ about his stance, President Trump said Consider this, India was their biggest client. I imposed a 50 percent tariff on India due to their purchase of oil from Russia. This is not a simple action to undertake. It is significant and creates a divide with India.