Donald Trump has said he was ready to impose “major sanctions” against Moscow and issued a challenge to NATO to stop importing Russian oil and help end the war in Ukraine.
The U.S. president said on Truth Social that such a move, coupled with increased tariffs on China, would help end “this deadly but ridiculous war.”
Trump said If NATO did as he said, the war would end quickly, but if not, “you are just wasting my time.”
Newsweek has contacted NATO for comment.
Why It Matters
Despite western-led sanctions to curb energy earnings, Moscow still receives significant oil export income every month, often via its “shadow fleet” of tankers.
According to Friends of Europe, an independent think tank, in 2024 Russia took in $16.4bn from oil sales, five percent more than in 2023.
However, in June, Newsweek reported that Russia’s sanctions-hit economy has been left reeling by falling fossil fuel revenues and a slump in profitability in the country’s oil refineries.
Figures released by Russia’s state statistics agency Rosstat at the time showed nearly a halving of profits from oil and gas, essential commodities for balancing the books.
Trump’s statement suggests he would target this key revenue generator to punish Vladimir Putin for dragging his feet on a peace deal in Ukraine, and it also puts the onus to help end the war on NATO, which Trump has criticized for not doing enough.
What To Know
Trump issued a challenge to NATO countries on Truth Social in which he said that he was ready to introduce “major sanctions on Russia” when all NATO nations had agreed to do the same thing, and stopped buying oil from Russia.
He said that the alliance’s commitment to win against Russia in Ukraine was “far less than 100 percent” , “and the purchase of Russian oil, by some, has been shocking” weakening the negotiating position over Moscow.
It is unclear which countries Trump was referring to, given that sanctions on Russian oil were imposed by the G7 and the EU and led to Moscow selling more to India and China, who are not members of NATO, to make up the shortfall.
Trump has imposed an additional 25 percent tariff on Indian goods, citing its imports of Russian oil, although China faces no similar action.
The U.S. leader’s Truth Social post said such sanctions plus NATO, as a group, placing 50 percent to 100 percent tariffs on China until the end of the war would precipitate peace.
Trump also called it “Biden’s and Zelensky’s WAR” without mentioning Putin, adding that if NATO did what he said, the conflict would end quickly and if not “you are just wasting my time, and the time, energy, and money of the United States.”
What People Are Saying
President Donald Trump on Truth Social: “I am ready to do major Sanctions on Russia when all NATO Nations have agreed, and started, to do the same thing, and when all NATO Nations STOP BUYING OIL FROM RUSSIA.”
“If NATO does as I say, the WAR will end quickly, and all of those lives will be saved! If not, you are just wasting my time, and the time, energy, and money of the United States.”
What Happens Next
Trump has previously threatened sanctions on Moscow and secondary sanctions on countries buying its oil, if no progress was made to end the war.
There will be anticipation over whether Trump will make good on his threat to target Russian oil or whether U.S. allies will respond to his call for China to face tariffs for its purchase of Russia’s energy products.
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