US urges G7 nations to impose tariffs on countries buying Russian oil
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Washington: The United States has called on G7 countries to impose tariffs on nations purchasing oil from Russia, stating that only a “unified effort” that cuts off funding to Moscow’s war machine at its source can apply sufficient economic pressure to end “the senseless killing.”
US Treasury Secretary Scott Bessent and United States Trade Representative Ambassador Jamieson Greer made the appeal during a call with G7 Finance Ministers on Friday, reiterating President Donald Trump’s earlier call to the bloc’s partners for coordinated action against Russian oil buyers.
The G7 is an intergovernmental bloc of industrialised nations comprising the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom. Canada currently holds the rotating G7 presidency, and its Finance Minister, François-Philippe Champagne, chaired the meeting to discuss further measures to increase pressure on Russia to end its war against Ukraine.
A statement from the US Treasury said, “During today’s call with G7 Finance Ministers, Secretary Bessent reiterated President Trump’s call to our G7 partners that, if they are truly committed to ending the war in Ukraine, they should join the United States in imposing tariffs on countries purchasing oil from Russia.” The statement did not name any specific countries, although the US has frequently singled out India and China for continuing to purchase Russian oil despite the absence of tariffs on Beijing.
“Only with a unified effort that cuts off the revenues funding (Russian President Vladimir) Putin’s war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing,” the statement added, citing Secretary Bessent and Ambassador Greer.
“Thanks to President Trump’s bold leadership, the United States has already taken dramatic action against purchasers of Russian oil. We are encouraged by the assurances of our fellow G7 nations that they are committed to ending this war, and we are hopeful that they will join us in taking decisive action at this critical time,” it said.
The US has already imposed steep tariffs on Indian goods, doubling duties to 50 per cent, including an additional 25 per cent specifically on India’s purchase of Russian crude oil. New Delhi has described this action as “unfair, unjustified and unreasonable,” emphasising that its energy procurement, including oil from Russia, is guided by national interest and market dynamics.
India and the US have been negotiating a bilateral trade agreement since March, completing five rounds of talks so far. The sixth round, originally scheduled last month, was deferred following the US’s imposition of the 50 per cent tariff on Indian goods. The high tariffs have strained trade relations, though both countries had planned to conclude the first phase of the bilateral trade deal by fall 2025.
Champagne said the G7 meeting was prompted by “Russia’s increasingly aggressive stance, including recent bombings in Ukraine and Wednesday’s violation of Polish airspace by Russian drones, and its unwillingness to agree to a ceasefire.” He added that Canada, as part of its G7 Presidency, remains committed to working closely with allies to increase pressure on Russia and support Ukraine’s long-term security and recovery.
The statement added that G7 Finance Ministers agreed to accelerate discussions on further using immobilised Russian sovereign assets to fund Ukraine’s defence and to explore other mechanisms for increasing financial support to Ukraine. Secretary Bessent and Ambassador Greer also welcomed commitments to step up sanctions pressure and consider using immobilised Russian assets to further benefit Ukraine’s defence.
Commenting on the matter during an interview with ‘Fox and Friends’ on Friday, President Trump said, “Look, India was their biggest customer. I put a 50 per cent tariff on India because they’re buying oil from Russia. That’s not an easy thing to do. That’s a big deal and it causes a rift with India.”
With PTI inputs