According to Reuters, US President Donald Trump is unlikely to impose the promised 100% tariffs on countries that buy Russian oil. Trump has already threatened similar measures against countries that purchase oil from Venezuela but has not implemented the tariffs. Experts say that introducing 100% tariffs on Russian oil could result in the removal of over 4.5 million barrels of raw material from the market each day. Additionally, the US risks severing trade ties with other nations and causing a sharp rise in oil prices, which could severely impact the global economy.
For these reasons, traders doubt that Trump will take such a step, as he has a negative stance on high oil prices. According to experts, Trump will try to avoid this. However, as US Secretary of State Marco Rubio noted, Trump is disappointed that his interactions and phone calls with Putin have not brought any result. He believes the American leader is losing patience with waiting for some action from the Russian Federation to end the war in Ukraine. Rubio believes that Russia is simply stalling for time.