Trump pushes NATO nations to stop buying Russian oil, impose tariffs on China

Published 1 month ago Negative
Trump pushes NATO nations to stop buying Russian oil, impose tariffs on China
Auto
[Russian crude oil industry and oil fossil fuels embargo]
Darwel/iStock via Getty Images

President Donald Trump said he is ready to impose major sanctions on Russia when all NATO nations have agreed to do the same and stop buying Russian oil, adding that these purchases weaken their negotiating position.

"I am ready to 'go' when you are. Just say when?" Trump posted on Truth Social over the weekend. "I believe that this, plus NATO, as a group, placing 50% to 100% TARIFFS ON CHINA, to be fully withdrawn after the WAR with Russia and Ukraine is ended, will also be of great help in ENDING this deadly, but RIDICULOUS, WAR."

"China has a strong control, and even grip, over Russia, and these powerful Tariffs will break that grip," he added.

Treasury Secretary Scott Bessent lauded Trump's comments [https://x.com/SecScottBessent/status/1966957083666116783] - "Only with a unified effort that cuts off the revenues funding Putin's war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing."

To note, Bessent and U.S. Trade Representative Jamieson Greer are currently in Spain, leading a delegation engaged in trade negotiations with Chinese officials.

"War cannot solve problems, and sanctions only complicate them," Chinese Foreign Minister Wang Yi said on Saturday. "China does not participate in or plot wars. Our role is to promote peace and dialogue, and to advance political solutions to hotspot issues through dialogue."

MORE ON CRUDE OIL

* UCO: 2x In The Oil Cycle [https://seekingalpha.com/article/4822795-uco-2x-in-the-oil-cycle]
* May World And Non-OPEC Oil Production [https://seekingalpha.com/article/4822389-may-world-non-opec-oil-production]
* OPEC+ Continues With Supply Hikes [https://seekingalpha.com/article/4822065-opec-plus-continues-supply-hikes]
* U.S. average pump price seen sliding to $2.90/gallon next year, EIA says [https://seekingalpha.com/news/4493559-us-average-pump-price-seen-sliding-to-290gallon-next-year-eia-says]
* Petrochemicals trade could see a 15% drop due to U.S. tariffs - TTE exec [https://seekingalpha.com/news/4493219-petrochemicals-trade-could-see-a-15-drop-due-to-us-tariffs-tte-executive-says---report]