President Trump is considering imposing sanctions against Russia’s “shadow fleet” of oil tankers if the country doesn’t reach a ceasefire with Ukraine by Friday, August 8, according to the Financial Times. Russia’s shadow fleet refers to ships with obscure ownership that transport oil to locations like India and China.
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If imposed, the sanctions would mark Trump’s first penalties against the country during his second term. So far, Trump has refrained from sanctioning Russia in an attempt to broker a Russia-Ukraine ceasefire.
Trump Threatens Russia with 100% Secondary Tariffs
Trump has also threatened to impose 100% secondary tariffs on Russia unless it reaches a ceasefire with Ukraine by August 8. On Tuesday, Bloomberg reported that Russia was considering an air attack truce with Ukraine in order to avoid the tariffs. At the same time, Russia continues to advance into Ukrainian territory, signaling its hesitancy to bring the war to a complete halt.
In addition, Trump has targeted India, a key buyer of Russian oil. He said he would “substantially” raise the tariff on imported Indian goods because the country indirectly supports Russia’s attacks with its oil purchases.
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