Trump supports plan for 500% tariffs on nations that continue Russia trade

President Trump told reporters in Florida on Sunday that a Senate plan to punish countries still doing business with Russia would be, in his words, “okay with me.”

Trump said this before flying back to the White House, making it clear who is driving the push, where he said it, when he said it, why he said it, and which pool report the information came from.

His comment came after months of internal pressure from lawmakers who want stronger moves against nations buying Russian energy.

He added another line before leaving Florida, saying, “The Republicans are putting in legislation that is very tough sanctioning, etcetera, on any country doing business with Russia.”

That statement showed that he knows who is pushing the bill, where it is coming from, when it started gaining speed, why it exists, and which source delivered the quote.

The people behind the idea include Senator Lindsey Graham, who has pushed the measure for years, and Senate Majority Leader John Thune, who said back in October he was ready to bring the bill to a vote but did not want to commit to a deadline.

Tariffs hit nations buying Russian oil

The legislation would give Trump the power to impose tariffs of up to 500% on imports from nations that keep buying Russian oil and do not help Ukraine. The focus is clear: China and India, who both buy large volumes of Russian crude.

He also said, “We may add Iran to that,” without giving details on where he got that information or when that call would be made. Lawmakers from both parties have pushed for new steps to hurt Russia’s economy as the war passes the four‑year mark.

For months, Trump held back on supporting this plan because he wanted to push Vladimir Putin and Volodymyr Zelenskiy toward peace talks. He even hosted Putin at a summit in Alaska, but the Russian leader has not eased his assault.

Ukraine is striking more Russian energy sites, but Russia has increased its own attacks and is trying to take the rail hub of Pokrovsk. Ukraine said it hit Rosneft PJSC’s Novokuybyshevsk refinery in the Samara region, more than 1,300 kilometers northeast of Kyiv, and reported explosions and fire in the area.

Oil flows shift as attacks hit Russia’s supply routes

Russia’s Black Sea port at Novorossiysk restarted oil loading after a two‑day shutdown caused by a Ukrainian cruise‑missile strike, according to Bloomberg and LSEG.

The ship‑tracking data showed two crude tankers, the Arlan and the Rodos, plus the Yanbu oil‑products carrier, were moored at the terminal on November 16. Ukraine’s General Staff said the attack in Samara was part of an effort to limit Russia’s ability to supply fuel and ammunition to its military.

Russia’s seaborne crude exports dropped for a third straight week, falling to a two‑month low. Vessel‑tracking data compiled by Bloomberg showed shipments at 3.45 million barrels per day in the four weeks to November 9, down by 130,000 barrels per day compared to the earlier period ending November 2.

A large amount of Russian oil is stuck on tankers because of slow discharge rates caused by U.S. sanctions.

More delays may come after November 21, the deadline for receiving oil tied to sanctioned giants Rosneft PJSC and Lukoil PJSC. The Aframax tanker Ailana sat idle off Mumbai for a week before transferring its cargo to the Fortis, which first headed toward Kochi but is now going to China after India did not take the cargo.

Russian crude at sea has climbed to over 350 million barrels, rising 22 million barrels, or 7%, since September, according to Bloomberg’s tanker‑tracking data.

At the same time, crude available for export is increasing because Russia has boosted production by 450,000 barrels a day since March as eight OPEC+ nations ease earlier cuts.

Fuel that cannot be refined due to damaged facilities is being funneled to export terminals instead.

Join a premium crypto trading community free for 30 days - normally $100/mo.