U.S. economist Scott Bessent has urged European countries to follow the United States in imposing secondary tariffs on Russian oil, which could lead to a 100% penalty for any country or company continuing to do business with Russia.
Bessent’s remarks come after U.S. President Donald Trump announced that the US will impose “severe” tariffs on Russia unless it agrees to end the war in Ukraine within 50 days.
The strategy aims to pressure Moscow by curbing its oil income, which accounts for roughly one-third of federal revenue and remains a vital source of funding for its war effort.
Kremlin spokesperson Dmitry Peskov responded by calling Trump’s threat “serious,” but said Moscow needs time to analyze Washington’s message.
