US Urges G7 Tariffs, Sanctions on Russian Oil, China, India

The United States is pushing its Group of Seven allies to impose tariffs as high as 100% on China and India for their purchases of Russian oil, aiming to pressure President Vladimir Putin to end Russia's war in Ukraine. In addition, the US proposes creating a legal mechanism for seizing frozen Russian sovereign assets, worth around $300 billion mostly held in Europe, to fund Ukraine's defense. President Donald Trump expressed his dwindling patience with Putin and indicated readiness to hit Russia with new sanctions targeting banks, oil, and tariffs, contingent on similar actions from Europe. The US plan also includes sanctions on Russia's shadow oil tanker fleet, Rosneft, maritime insurance bans, and restrictions on organizations supporting Russia's defense sector and technology transfers. However, the implementation of these measures faces obstacles due to resistance from some European Union countries like Hungary, complicating consensus on tougher sanctions. Experts note the geopolitical and economic complexities of imposing such secondary sanctions on China and India, given their economic stakes and China's leverage in critical minerals and rare earths, underscoring the challenge of achieving unified action within the G7.