President Trump believes that lower oil prices could lead to the end of the Russia-Ukraine war, reducing a key source of revenue for Russia’s war efforts. He added that there is “plenty of oil” left in the North Sea, suggesting that increased production efforts there could weaken Russia’s stronghold on the commodity.
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Trump has already begun the process of punishing buyers of Russian oil. Last month, he elevated India’s tariff rate to 50% from 25%, accusing the country of purchasing Russian oil and then selling it for a profit. “They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump previously said in a Truth Social post.
Trump Defends UK PM, Doubles Down on Sanctions
On Thursday, Trump said he didn’t fault United Kingdom Prime Minister Keir Starmer for Europe’s Russian oil purchases, with both leaders in agreement that Europe must stop buying it and impose stricter sanctions on Russia.
At the same time, Trump also said now is “not the time to ask Putin for a ceasefire,” adding that he would take harsh actions against Russia if necessary.
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