A senior advisor to Ukrainian President Volodymyr Zelensky is calling on the US to “strangle” the Russian economy by imposing tariffs on Moscow’s trading partners, though the US measures are unlikely to hurt Russia.
“The [Russian] economy, geared for war, cannot withstand the pressure and is holding on only through the sale of energy resources,” said Andriy Yermak, the head of Ukraine’s presidential office. “It is possible to strangle the economy with secondary tariffs proposed in the USA.”
President Trump has threatened to hit countries that are purchasing Russian oil with 100% tariffs, and a bill in the Senate would impose 500% tariffs on any country that “knowingly engages in the exchange of Russian-origin uranium and petroleum products.”
Either tariff rate would have a significant impact on the US economy since China and India are major buyers of Russian oil. President Trump has already announced a 25% tariff on India and an unspecified “penalty” on the country over its trade with Russia. But Indian officials say they will continue buying Russian oil despite the US threats of further action.
In response to US threats to impose tariffs over the purchase of Russian oil, the Chinese Foreign Ministry said Beijing would “take energy supply measures” based on China’s national interests.
“Tariff wars have no winners,” said Chinese Foreign Ministry spokesman Gua Jiakum. “Coercion and pressuring cannot solve problems. China will firmly safeguard its own sovereignty, security, and development interests.”
Russia has also made clear that it’s not fazed by the US’s ultimatum to reach a deal to end the war in Ukraine by August 8 or face tariffs and other economic measures. The deadline prompted a warning from former Russian President Dmitry Medvedev, who said each US ultimatum “is a threat and a step towards war. Not between Russia and Ukraine, but with (Trump’s) own country.”
Trump responded to Medvedev’s comments by announcing the deployment of two nuclear submarines, a highly provocative move. “I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that,” he wrote on Truth Social on Friday. “Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances.”
