Sky News Daily Punish India to stop Putin? Trump’s tariff conundrum
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Aug 21, 2025 Ed Conway, Sky's economics and data editor, brings his expertise to the discussion on Trump's potential tariffs against India for its Russian oil trade. The conversation reveals how Russian energy flows have shifted from Europe to India and China. Conway explores India's strategic position amidst U.S. pressure and questions if these tariffs could truly impact Russia's economy. The podcast also highlights the complicated dynamics of global power as countries navigate sanctions while maintaining their interests.
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US Sanctions Have Grown Tougher
- The Trump administration has tightened sanctions on Russia despite public expectations of leniency.
- Sanctions now focus on cutting how Russia finances its war, mainly through energy sales.
Russian Oil Is Being Laundered Via Asia
- Russia reroutes crude to India and China where local refineries process it and export products back to Europe.
- Europe remains part of the same energy ecosystem, but with intermediaries laundering Russian oil.
Europe Still Relies On Russian Gas
- Europe still imports large amounts of Russian gas in LNG form despite pipeline cuts.
- Complete rejection of Russian gas would cause severe industrial and consumer pain across Europe.