China, India Adjust Russian Oil Purchases Following New Trump Sanctions
following the implementation of new sanctions by the trump administration targeting russian energy giants Rosneft and Lukoil, both China and India are demonstrating a shift in their purchasing patterns of Russian oil, according to reports. The sanctions, announced Wednesday, are the latest effort to pressure Russian President Vladimir Putin into engaging in serious peace negotiations regarding the 32-month-old conflict in eastern Europe.
The White House views the sanctions as a significant step, with one expert agreeing they are a “big deal,” but emphasizing that “the extent of their impact will depend largely on US enforcement.” This individual, who wished to remain unnamed, stated that “If the administration is aggressive in pursuing violators, the sanctions will likely squeeze Russian revenue substantially. That will balloon Moscow’s deficit and make it more difficult for russia to sustain the war.”
Russia’s economy is already facing headwinds from high interest rates, declining oil revenues, and limited investment outside of its military sector. The Vienna Institute for International economic Studies recently projected Russia’s GDP growth at just 1.2% for the current year, narrowly avoiding a recession.
The administration has indicated a willingness to revisit potential talks with Putin, after previously scrapped plans for a summit in Budapest, Hungary. White House Press Secretary Karoline Leavitt stated Thursday that “a meeting between these two leaders is not completely off the table,” but stressed Russia must first demonstrate a commitment to peace. “I think the president and the entire administration hopes that one day that can happen again, but we want to make sure that there’s a tangible positive outcome out of that meeting, and that it’s a good use of the president’s time,” she said.
US Treasury Secretary Scott Bessent affirmed the possibility of further sanctions if Putin does not move towards peace, stating his department was “prepared to take further action if necessary to support President Trump’s effort to end yet another war.”
Leavitt also highlighted trump’s consistent stance on Russia, saying he has “always maintained that he would implement sanctions on Russia when he felt it was appropriate and necessary – and yesterday was that day.” She explained that Trump believes “both sides need to be interested in a good peace deal,” and has “not seen enough interest…in enough action in terms of moving the ball forward towards peace” from Russia. Secretary of State Marco Rubio echoed this sentiment,stating the president “has said repeatedly for a number of months now that at some point he will have to do something if we don’t make progress on the peace deal,” and “Today was the day he decided to do something.”
Alongside the US measures, the European Union also announced new sanctions Wednesday, banning the purchase of Russian liquefied natural gas and targeting Chinese companies supplying dual-use goods – items applicable to both civilian and military sectors – that could help russia circumvent existing trade restrictions.
