Falling energy prices could put pressure on Russian President Vladimir Putin to end the war in Ukraine. This was stated by US President Donald Trump in an interview with CNBC, quoted by Reuters.
"If energy gets cheaper enough, Putin will stop killing people", Trump said. "If it gets cheaper by another $10 a barrel, he won't have a choice because his economy stinks", the US president added.
Earlier today, Russia's Finance Ministry reported that the country's oil and gas revenues fell by 27 percent in July 2025 on an annual basis – to 787.3 billion rubles ($9.8 billion), down from 1.079 trillion. rubles in the same month of the previous year, BTA recalls.
For the period January-July, Russia's oil and gas revenues fell by 18.5 percent compared to the same period in 2024.
Trump also said to CNBC that he would significantly increase tariffs on imports from India in the next 24 hours, in response to its continued imports of Russian oil. According to him, the tariff rate of 25 percent will be increased without reaching a specific new level.
"They are fueling the war machine, and if they are going to do that, then I will not be happy", Trump commented. He added that in his opinion, India applies too high tariffs on American goods.
The American president also criticized two of the leading banks in the United States - – "Bank of America" (Bank of America) and "JPMorgan" (JP Morgan), accusing them of refusing to accept his deposits in the past. He added that he believes the banks discriminate against his supporters.