Falling oil prices are squeezing the already slowing economy of aggressor state Russia and threatening to cut its military budget, The Wall Street Journal reported on April 20, analyzing the indirect impact of U.S. President Donald Trump’s trade war despite no tariffs targeting Moscow. The WSJ points out that oil is both the engine of the Russian economy and its greatest weakness, with oil and gas revenues making up about a third of the national budget. That same day, President Trump announced he had approved a 90-day pause on implementing the new tariffs for all other countries — while raising the tariff rate for China to 125% due to what he called its “lack of respect.” In response, Beijing raised its own tariffs on the United States to 84%.
Author: Alex Stezhensky
Published at: 2025-04-20 21:52:12
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