US-Tariffs: Russia Slams Washington for "Pursuing a Neocolonial Agenda" in Energy Trade

Strategic Insights -

Russia's Foreign Ministry Spokesperson Maria Zakharova has criticized the US for imposing tariffs on 68 nations and the European Union, saying Washington is pursuing a neocolonial agenda. She noted that the US, once a champion of "free trade", is now imposing tariffs on countries across the globe, including 68 nations and the European Union. Russia sees this as a move to maintain its global hegemony, especially after Trump's tirade against India. Zakharova also pointed out that the US is now a major importer of Russian energy and other goods, contradicting Trump's claim that India is making "big profits" by buying oil from Russia.

Key Takeaways:

  • Russia's Foreign Ministry Spokesperson Maria Zakharova has strongly criticized the US over tariffs introduced by President Donald Trump, impacting several countries, including Brazil, a strategic partner in Latin America and the Caribbean.
  • Zakharova has accused the US of pursuing a neocolonial agenda, interfering in the internal affairs of nations, and employing politically motivated economic pressure.
  • The US, which once championed "free trade", is now imposing tariffs on countries across the globe, including 68 nations and the European Union.
  • Zakharova pointed out that the tariffs also risk slowing global economic growth by disrupting supply chains and deepening the fragmentation of the international economic system.
  • India has slammed the US on tariffs over oil trade from Russia, saying it has been targeted for importing oil from Russia after the commencement of the Ukraine conflict.
  • India's oil imports from Russia ensure affordable prices to Indians, while the US and EU also trade with Russia, with the EU trading [euro]67.5 billion worth of goods with Russia in 2023.
  • The US imports uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers, and chemicals from Russia, making India's targeting unjustified and unreasonable.
  • Russia has the support of many like-minded states and BRICS nations, and is ready to deepen cooperation with nations and allies that align with Russia to tackle unlawful unilateral sanctions.

Statistics:

  • 68 nations and the European Union are facing tariffs from the US, starting August 7.
  • The tariffs will range from 10 to 41 per cent.
  • The EU traded [euro]67.5 billion worth of goods with Russia in 2023, while India's total trade with Russia in 2023 was significantly lower.
  • European imports of LNG in 2024 reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022.
  • The US imports uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers, and chemicals from Russia.

Sources:

  • [Russia's Foreign Ministry Spokesperson Maria Zakharova's statement]
  • [Statement by the Ministry of External Affairs (MEA) of India]
  • [Trump's statement on Truth Social]