The Trump administration’s never-ending trade wars have recently extended to include a set of tariffs against Russia.
The latest tariff package will affect several Russian products, specifically shipments of Russian oil to North Korea.
The decision was likely made in response to North Korea’s continued imports of oil. North Korea’s imports have continued despite the U.S. sanctions and the United Nations’ limits on oil.
The shipments operate through Primorye Maritime Logistics Co. and Gudzon Shipping Co. Oil is brought into the country via ship-to-ship transfers. These ships are later brought into port and are used for contraband.
The U.S. has warned the United Nations about this practice in the past. However, negotiations between the U.S. and North Korea have taken a turn for the better. As such, the U.S. is no longer quite as concerned about the
Despite the agreement reached during the Singapore summit in June, North Korea has shown absolutely no intentions of denuclearizing. In response, the White House is now attempting to increase economic pressure on the country through tariffs.
Addressing the latest sanctions on Russian oil, Treasury Secretary Steven Mnuchin has stated:
The Treasury Department is disrupting Russian efforts to circumvent our sanctions. Today’s action against these deceptive actors is critical to ensure that the public is aware of the tactics undertaken by designated parties and that these actors remain blocked from the U.S. financial system.”
Mnuchin himself has been an avid defender of Trump’s trade wars. This was most notable during the G-20 summit in Buenos Aires. Most economic advisers in attendance shared their concerns regarding the U.S.’ measures pressure other countries. Mnuchin was the only advisor at the summit who did not share this opinion.
Featured Image via Wikimedia Commons