US Urges G7 to Levy Up to 100% Tariffs on China, India Over Russian Oil Buys

The US will urge its allies in the Group of Seven (G7) to impose tariffs as high as 100 percent on China and India for their purchases of Russian oil in an effort to convince President Vladimir Putin to end his war in Ukraine.

- BLOOMBERG

The US will also tell the G7 countries they should create a legal pathway to seize immobilized sovereign Russian assets and consider seizing or using the principle of those assets to fund Ukraine's defense, according to a US proposal seen by Bloomberg. The vast majority of the about $300 billion of Moscow's immobilized assets are in Europe.