Prepared for Additional Penalties Against Russia by Trump

In a recent development, US President Donald Trump has criticized European countries for their oil deals with Russia, urging them to halt these transactions to prevent Russia from financing its war against Ukraine. Trump's comments come as part of a broader push to increase economic pressure on Moscow.

Trump has also claimed readiness to impose further sanctions on Russia, although he did not provide specific details about the new measures. The exact timing for these additional sanctions is uncertain, with Trump stating he is prepared to impose them "very soon" and enter a second phase of sanctions, yet without specifying a precise date.

Last week, the US imposed additional 25 percent tariffs on Indian products due to its oil deals with Russia. Trump has hinted at plans for "Phase 2" and "Phase 3" of sanctions beyond the tariff imposed on India, but the nature of these sanctions remains unclear.

US Treasury Secretary Steven Mnuchin is set to meet with EU officials on Monday to discuss potential economic pressure on Russia, including new sanctions. Mnuchin believes that the US needs EU support to increase the pressure on Russia.

The EU has imposed import bans on Russian energy carriers like coal and oil, but these do not apply to oil transported via pipelines. Despite the decreased oil deals with Russia in recent years, Europe has not announced a complete stop to these transactions. The Russian oil pipeline Druzhba continues to transport oil towards Hungary and Slovakia.

Interestingly, the US has not imposed tariffs on European countries buying Russian oil, but has done so on India in relation to the Ukraine conflict. India is currently the only trading partner of Russia that the US has targeted with tariffs in this context.

Trump has also urged European countries to put pressure on China. Mnuchin suggested that imposing further sanctions and tariffs on countries buying Russian oil could lead to the collapse of the Russian economy, forcing Russian President Vladimir Putin to the negotiating table. The US views sanctions as a means to put pressure on Putin and achieve a peaceful resolution in the Ukraine conflict.

So far, Trump's diplomatic efforts regarding the Ukraine conflict have been unsuccessful. Putin has been accused of stalling a direct meeting with Ukrainian President Volodymyr Zelensky. The situation remains tense, with both the US and the EU continuing to monitor the situation closely and consider their options for further action.