Former U.S. President Donald Trump asserted that a significant drop in global oil prices would compel Russian President Vladimir Putin to cease the conflict in Ukraine. Trump emphasized that if European nations, India, and China halted their purchases of Russian oil, it would be the crucial factor in achieving this outcome.
These remarks were delivered during a joint press conference with British Prime Minister Keir Starmer at Chequers, the official country residence, marking the conclusion of Trump’s two-day state visit to the United Kingdom.
Previously, Trump had called for EU and North Atlantic Treaty Organisation (NATO) member states to completely stop buying Russian oil. Reports also indicated that the U.S. administration had been trying to convince European countries to impose substantial secondary tariffs, potentially up to 100%, on India and China due to their ongoing trade with Russia.
“Quite simply, if oil prices fall, Putin will have no option but to settle and withdraw from that war,” Trump stated, specifically including India in his discussion.
Trump recounted his reaction to discovering European nations were still purchasing Russian oil. He then highlighted his strong relationship with India, noting his recent phone call with Prime Minister Modi.
“I wished him a happy birthday and acknowledged our very good relationship, noting the positive statement he released. However, I reminded him that I had sanctioned India,” Trump explained. He was referring to the 25% tariff he had placed on Indian goods entering the U.S., a measure linked to India’s energy and arms dealings with Russia. This was in addition to an existing ‘reciprocal tariff,’ effectively making the total tariff 50%.
The combination of this 50% tariff rate and Prime Minister Modi’s recent meeting with Chinese President Xi Jinping and Russian President Putin had strained India-U.S. relations to a low point not witnessed in years. However, diplomatic ties had recently shown signs of improvement.
In a social media post, Prime Minister Modi acknowledged Trump’s birthday wishes and affirmed his support for Trump’s efforts to resolve the Ukraine conflict.
Trump noted that China was currently subjected to significant tariffs by the U.S. The Trump administration had previously argued that it might not be economically beneficial for America to impose further tariffs on China, especially when questioned about why India, rather than Beijing, faced ‘penalty’ tariffs for its trade with Russia.
“While China is currently paying substantial tariffs to the United States, I am open to other actions, but not when the very nations I am advocating for are purchasing oil from Russia,” Trump stated.
The President expressed his disappointment, stating that Putin had ‘let him down.’
“He has let me down,” Trump said, lamenting the heavy loss of life, stating, “He’s killing many people, and he’s losing more people than he’s killing.”
“I dislike seeing this carnage. It doesn’t directly impact the United States, unless it escalates into a world war, which is a real possibility,” he remarked. Trump further claimed that if he had been in the White House in 2022, the war would have never started, referencing Russia’s invasion of Ukraine that year.
Trump also asserted that he had successfully resolved several conflicts, including a four-day armed standoff between India and Pakistan, a claim that India has consistently denied. He stressed that his approach involved using trade as a powerful form of leverage.
“That intervention was purely driven by trade interests. My message was clear: if you want to trade with us, you must resolve your differences. They were fiercely engaged, and we stepped in,” he concluded.