Helima Croft on Russia Sanctions, European Authority, and India's Oil Imports

Upcoming US-Russia Summit and Sanctions

• 🗓️ A summit between President Trump and Russia's President Putin is tentatively scheduled for the end of next week, with the UAE as a potential host.
• ⚠️ Today marks Trump's deadline for Russia and Ukraine to end the war or face additional sanctions.

European Discretion on Sanctions

• 🇪🇺 The Europeans hold significant authority and discretion over when sanctions related to energy come off Russia, as they implemented much of the sanctions architecture.
• ⛽ The US initially panicked about Russian oil leaving the market and implemented price caps to divert barrels to countries like India.

India's Response to Sanctions and Tariffs

• 🇮🇳 India increased its imports of Russian oil after the US and Europe imposed sanctions and service bans, taking advantage of discounted prices.
• ⚖️ India is now reacting to potential additional tariffs, feeling the US has