BrusselsA few moments ago
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NATO General Secretary Mark Rute threatened a 100% secondary ban on the three countries.
NATO General Secretary Mark Rute said on Wednesday to pressurize India, China and Brazil Putin to talk to Ukraine. Rute said- If you are the President of China, the Prime Minister of India or the President of Brazil, then you have to understand that there may be a huge loss of continuing business with Russia.
I appeal to the leaders of these three countries to talk to Putin on the phone and ask them for peace talks. Rute has also threatened to impose secondary ban on the three countries. He said that if these countries continue to buy oil and gas from Russia, then 100% secondary restrictions will be imposed on these countries.
Russian Deputy Foreign Minister Sergei Riyabkov dismissed the threats of the US and NATO. He said, Russia is ready to interact with Trump, but such ultimatums are not acceptable. Russia says that it will not change its policies despite economic pressure and will find optional business route.
Two days ago Trump threatened 100% tariff on Russia Trump on Monday threatened to put a heavy tariff to pressurize Russia to end the war with Ukraine. Trump had said- I use trade for many things, but it is great to end war.
Trump had said that if Russian President Vladimir Putin did not compromise a peace with Ukraine in 50 days, it would be charged 100%. Trump said that this would be ‘secondary tariff’, which means that the countries who buy oil from Russia, such as India and China, will also be banned.
At the time when Trump threatened to put 100% tariff on Russia, NATO general secretary Mark Roote was also present with him.
What will be the effect of secondary ban on India?
India is a big buyer of crude oil from Russia. Since the Russia-Ukraine War, India has met its energy needs by purchasing cheap oil from Russia. If secondary restrictions are applicable, it may have bad effects on India.
- Oil supply blockage: India buys a large part of its total oil imports from Russia. Russian oil supply may stop due to restrictions. This may have to buy expensive oil from alternative sources (such as Saudi Arabia, Iraq), which will increase oil prices.
- Economic loss: If India stops buying oil from Russia, then fuel prices may increase, which will affect the general public. If India continues trade with Russia, the US may ban Indian companies or banks, affecting India’s export and financial transactions.
- energy crisis: India’s energy security may be in danger when oil imports from Russia are closed. The global oil market is already unstable, and new restrictions can further spoil the condition. India may have to make emergency plans to avoid oil shortage.
- International Pressure: India may face pressure from the US and NATO, which will affect its foreign policy. India may find it difficult to balance between Russia and Western countries.
China and Brazil are also affected China is Russia’s largest trading partner and a large buyer of Russian oil. Secondary sanctions can be affected by China’s economy, but its global economic strength may protect him to some extent.
Brazil also buys oil and other items from Russia. Restrictions may affect its economy, especially agriculture and energy sector.
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