The United States has initiated a proposal to G7 countries to impose increased tariffs of 50-100% against China and India. The reason is that these countries continue to purchase Russian oil, effectively contributing to the funding of the Russian Federation’s military actions against Ukraine. Washington believes that such a move could intensify economic pressure on Moscow and push it towards peace negotiations regarding the situation in Ukraine.
This is reported by Business • Media
European Concerns About Possible Consequences
In Brussels, it is emphasized that the introduction of such high tariffs against Beijing and New Delhi could lead to significant economic complications and provoke countermeasures from China and India. The European Union, on the other hand, proposes to strengthen sanctions against Russian energy companies and to move the previously set deadline of 2027 to an earlier date for a complete abandonment of Russian oil and gas. To implement this strategy, the EU considers it necessary to exert pressure on Hungary and Slovakia, which are currently not ready for a rapid abandonment of Russian energy resources. Additionally, the European Commission is considering the possibility of imposing separate sanctions against China for purchasing cheap Russian energy resources.
India’s Response and Current Cooperation Between China and Russia
At the same time, India’s largest private port operator, Adani Group, announced a ban on the entry of tankers under Western sanctions into all its ports. This decision, affecting 14 ports, could significantly impact the supply of Russian oil by shadow fleets to Indian refineries.
In contrast, China continues to actively purchase Russian liquefied natural gas from the sanctioned Arctic LNG 2 project. Last week, the sanctioned tanker Zarya delivered the third batch of LNG, amounting to over 160,000 cubic meters, to the Beihai LNG terminal in southern China. Two more gas carriers, each with 174,000 cubic meters, were already on their way to the same terminal.
In the US, Europe, and Ukraine, it is believed that China could become a key factor in influencing Putin to initiate peace negotiations. The President’s Special Representative for Ukraine, Kurt Volker, emphasized at the annual YES meeting in Kyiv that a complete cessation of support for Russia from China could lead to a swift end to the aggression.
“A complete halt of support for Russia by China could lead to a quick end to Russian aggression against Ukraine.”
Ukrainian President Volodymyr Zelensky also stressed that Beijing has sufficient influence to compel the Russian Federation to end the war, but the global community does not see China’s readiness to leverage this influence.