US convenes G7 to discuss economic pressure on Russia, says Reuters

The US Treasury Department has called on its allies in the G7 and the European Union to impose "meaningful tariffs" on goods from China and India to stop them from buying Russian oil.

Source: Reuters

Details: The US Treasury Department has also convened a G7 financial meeting to discuss measures to increase pressure on Moscow to end the war in Ukraine.

"Chinese and Indian purchases of Russian oil are funding Putin’s war machine and prolonging the senseless killing of the Ukrainian people," a US Treasury Department spokesperson said in an emailed statement to Reuters.

He added that earlier this week, the US Treasury made it clear to the EU that if they are serious about ending the war in the region, they must join the effort by imposing significant tariffs, which would be lifted once the war ends.

"President Trump’s Peace and Prosperity Administration is ready, and our G7 partners need to step up with us," the spokesperson added.

Background: This week, the US president called on the EU to impose tariffs of up to 100% on China and India, and is now extending this idea to G7 partners.

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