Recent tensions between the US and Russia have escalated, particularly with Trump's announcement of deploying nuclear submarines and imposing new sanctions against India for purchasing Russian oil.
Russia and the United States
Trump recently noted significant progress by his special envoy Steve Witkoff during a meeting with Russian President Vladimir Putin. The White House is preparing secondary sanctions against Russia targeting countries purchasing Russian oil. If Putin fails to take concrete steps by Friday, sanctions will be activated, reflected in the additional 25% tax imposed on India.
Financial Impact on the Market
The global community is concerned about the new tax on oil purchases in India. Such measures may affect not only India but also other countries, like China, which also rely on Russian energy resources. Increased taxes could lead to rising oil prices and impact the global economy.
Cryptocurrency Prospects
The consequences of secondary sanctions may lead to confrontation with the US, contributing to uncertainty and adverse effects on the cryptocurrency market. Trump's actions and Russia's response are expected to significantly influence the direction of the crypto market in the coming weeks.
The current state of sanctions and military posturing casts doubt on market stability and leads to increased uncertainty. Future actions by Trump and responses from Russia will determine the ongoing developments.
