Donald Trump has announced that he will raise tariffs on India to 50 percent for buying Russian oil. The US president last week announced that he would impose a 25 percent tariff on Indian products, and the new presidential order increases that figure by another 25 percentage points. The new tariff will take effect in 21 days.

Trump's new order also gives his own administration a task. The administration must investigate whether other countries are importing Russian oil. If the administration finds such countries, it must propose whether similar new tariffs should be imposed on them.

Trump announced the new tariffs shortly after talks in Moscow between Vladimir Putin and US special envoy Steve Witkoff. The three-hour meeting was described by the Russian side as"useful" and "constructive". The Americans, however, have not yet commented on the talks.

Trump has signaled in recent days that he will use his trade policy as a tool against Russia to end the war in Ukraine. The tariff policy has already had concrete consequences. After announcing a 25 percent tariff on India last week, four of the Asian country's state-owned oil refineries stopped importing Russian oil. (via The New York Times)