1. US Treasury Secretary Scott Bessent has urged the G7 nations to increase tariffs on countries buying crude oil from Russia, including China and India.
2. The call was made during an online meeting of G7 finance ministers and central bank governors on Friday.
3. Bessent believes that economic pressure is necessary to end the violence in Ukraine and will come from a unified effort to cut off Russia's sources of funding. Additionally, US President Donald Trump's administration has already raised additional tariffs on imports from India due to its purchases of crude oil from Russia.
2. The call was made during an online meeting of G7 finance ministers and central bank governors on Friday.
3. Bessent believes that economic pressure is necessary to end the violence in Ukraine and will come from a unified effort to cut off Russia's sources of funding. Additionally, US President Donald Trump's administration has already raised additional tariffs on imports from India due to its purchases of crude oil from Russia.
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Summary
G7 finance ministers and central bank governors met online, with US Treasury Secretary Scott Bessent advocating for increased tariffs on countries purchasing crude oil from Russia, such as China and India. The proposal aims to exert economic pressure to end the violence in Ukraine by cutting off