In a significant development, US President Donald Trump threatened to impose 100 per cent "secondary tariffs" on Russia if a deal on Ukraine is not reached within 50 days.
After his meeting with NATO Secretary General Mark Rutte in the White House on Monday (local time), Trump expressed disappointment with his Russian President Putin and threatened to impose severe tariffs if there is no deal within 50 days.
Trump expresses disappointment with Putin
Here’s what Trump said on Russia-Ukraine deal
"I'm trying to get you out of it. And we want to see it end and I'm disappointed in President Putin because I thought we would have had a deal two months ago, but it doesn't seem to get there. So, based on that, we're going to be doing secondary tariffs if we don't have a deal in 50 days. It's very simple and they'll be at 100 per cent and that's the way it is. It can be more simple. It's just the way it is. I hope we don't have to do it. But regardless, we are going to be, we make the greatest military equipment in the world, whether it's missiles," he added.
Meanwhile, Trump's special envoy to Ukraine and Russia met with Ukrainian President Volodymyr Zelenskyy in Kyiv on Monday, as anticipation grew over a possible shift in the Trump administration's policy on the three-year war.
Who is buying Russia's fossil fuels?
As per a report by CREA, China remained the largest global buyer of Russian fossil fuels in June 2025. Their imports accounted for 38% (EUR 5.4 bn) of Russia’s monthly export earnings from the top five importers. Crude oil comprised 64% (EUR 3.5 bn) of China’s imports from Russia.
Crude oil: China has bought 47% of Russia’s crude exports, followed by India (38%), the EU (6%), and Turkiye (6%).
Oil products: Turkiye, the largest buyer, has purchased 26% of Russia’s oil product exports, followed by China (13%) and Brazil (12%).
LNG: The EU was the largest buyer, purchasing 51% of Russia’s LNG exports, followed by China (21%) and Japan (18%).
Pipeline gas: The EU was the largest buyer, purchasing 37% of Russia’s pipeline gas, followed by China (30%) and Turkiye (27%).
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Trump threatens 'very severe tariffs' on Russia if war with Ukraine doesn't end within 50 days