Will urge the USA their allies on G-7 to impose duties Up to 100% in China and India for Russian oil markets, this proposal is part of the broader context of economic pressure on Russia, with the aim of persuading Vladimir Putin to end the war in Ukraine.
Along with the proposal to impose duties, the US will call on the G-7 countries to consider the legal capacity to seize immobilized Russian state assets that could be exploited to support Ukrainian defense. It is recalled that most of the about $ 300 billion in frozen Russian assets are in Europe, according to Bloomberg.
Separately, senior US officials have discussed with their European counterparts the idea of gradual seizure of the frozen assets of the Central Bank of Russia, to increase the pressure on Moscow to start negotiations, according to people who know the issue.
Profits produced by assets are currently used to provide loans to Ukraine.
India’s leading role in imports of Russian crude in Asia
Canada, who exercises the presidency of the G-7, convened a meeting of the finance ministers of the team on Friday to “discuss further measures to increase pressure on Russia and to limit its war device”, according to a statement.
The US proposal provides for 50% to 100% secondary duties in China and India, as well as restrictive commercial measures in both imports and exports, with the aim of limiting Russian energy flow and preventing the transfer of dual -use technologies to Russia, according to the proposal.
A White House spokesman did not immediately respond to a request to comment on the proposals.
President Donald Trump told European officials that he is willing to impose new, sweeping duties in India and China to push Putin on the table with Ukraine negotiations – but only if the nations do the same in Europe.
Trump asked this question when he phoned a meeting with senior US and European Union officials in Washington this week and said the US would be willing to copy Europe’s duties on any of the two countries, Bloomberg said earlier.
The proposal is a challenge as many nations in the EU, including Hungary, have blocked stricter sanctions aimed at Russia’s energy sector. Such measures would require the support of all Member States.
Trump’s proposal comes after the deadline set by Putin to hold a bilateral meeting with Ukrainian Volodimir Zelenski, without any indication that the Russian leader was really interested in joining peace -to -face peace talks. Instead, Moscow has intensified the bombing campaign in Ukraine.