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Trump Threatens Tariffs on Russian Oil Amid Ukraine Conflict

by Daisy

Former U.S. President Donald Trump expressed frustration with Russian President Vladimir Putin on Sunday, stating he was “pissed off” and warning of potential secondary tariffs on Russian oil if Moscow obstructs his efforts to end the war in Ukraine.

Speaking to NBC News, Trump declared he would impose tariffs ranging from 25% to 50% on buyers of Russian oil should he determine that Russia is responsible for prolonging the conflict.

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“If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia’s fault — which it might not be — but if I think it was Russia’s fault, I am going to put secondary tariffs on oil, on all oil coming out of Russia,” he said.

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Market Reaction

Following Trump’s remarks, gold prices (XAU/USD) saw a slight uptick, rising 0.16% to $3,089 at the time of writing.

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