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US urges G7 to impose up to 100% tariffs on China and India over Russian oil

Finance ministers discuss Washington’s proposal aimed at pushing Moscow to agree Ukraine peace deal

An oil tanker moored at Novorossiysk, Russia. The EU buys about a fifth of its gas from Russia © AP

An oil tanker moored at Novorossiysk, Russia. The EU buys about a fifth of its gas from Russia © AP

The US has pressured G7 countries to hit India and China with tariffs of up to 100 per cent for buying Russian oil in an attempt to force Moscow into peace talks with Ukraine, according to a document seen by the Financial Times.

In a video call on Friday, finance ministers from the G7 leading economies discussed a US proposal for a round of new measures as President Donald Trump steps up efforts to broker a peace deal in Ukraine. 

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Author: Andy Bounds and Henry Foy in Brussels, Ben Hall in Kyiv, James Politi in Washington and Ilya Gridneff in Toronto

Source: Financial Times

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