Trump says he has run out of patience with Putin, threatens new oil sanctions

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US President Donald Trump has said that he is running out of patience with Russian President Vladimir Putin. To that end, he has threatened Moscow with new economic sanctions because peace talks with Ukraine have faltered. In an interview, Trump said, “It’ll be hitting very hard on with sanctions to banks and having to do with oil and tariffs also.” Trump’s statement comes after Russia said negotiations with Ukraine were on pause, even after Trump’s push following a meeting with Putin last month for direct talks between the Russian leader and Ukrainian President Volodymyr Zelenskiy. The next plan that Trump has to frustrate Putin is to urge allies in the Group of Seven to impose tariffs as high as 100% on China and India for their purchases of Russian oil. India is the biggest buyer of Russian seaborne oil, mostly shipped on tankers under sanctions by the European Union, the United States, and Britain. Meanwhile, Energy Secretary Chris Wright went to Brussels for talks to finalize the terms of a deal that Trump and von der Leyen made for the EU to buy an extra $750 billion worth of gas, oil, and nuclear fuel from the US. Oil price jumps 2% after drone attack Ahead of Trump tariffs, the price of oil is up 2% after a Ukrainian drone attack on a Russian port stopped loadings. This was more than enough to counteract worries about oversupply and lower US demand risks. According to reports, oil loading operations had to stop overnight because of the drone attack on Primorsk, a port in the northwest of Russia that is one of the country’s biggest oil and fuel export hubs. “Those attacks on Russian energy infrastructure have room to drag down Russian crude and refined product exports,” said UBS analyst Giovanni Staunovo. Also,…