Trump Holds off Tariffs On Russian Oil After Alaska Summit

The Alaska summit between Donald Trump and Vladimir Putin stretched nearly three hours but ended without a single concrete agreement on Ukraine. Both leaders tried to frame it as constructive. Trump said there were “just a very few” points left to resolve, and Putin called the talks “thorough and useful.” But the reality is that nothing changed on the battlefield. The lack of outcome made the meeting look less like a serious negotiation and more like a stage-managed moment that worked in Putin’s favor.

Trump Pauses Tariffs On Russian Oil Buyers

What has drawn more attention in the aftermath is Trump’s sudden decision to delay new tariffs on countries that continue to buy Russian oil. He told Fox News after the meeting that “because of what happened today, I think I don’t have to think about that,” adding he might revisit it “in two weeks or three weeks.” This pause buys time for China, the largest buyer of Russian crude, which had been bracing for secondary sanctions. Markets read it as short-term relief, but the uncertainty remains. Trump left the possibility of tariffs hanging over Beijing without any clear criteria for what would trigger them.

The administration has already set tariffs at 50 percent on Indian goods, one of the highest rates ever imposed on a major US trade partner. These duties take effect August 27 and are expected to bite. Trump claimed that this pressure forced Russia to the Alaska summit by cutting into Moscow’s oil exports. He even described India as “an oil client” that Putin had lost. Yet Indian Oil Corporation’s chairman, A.S. Sahney, flatly rejected that line, insisting there has been “no pause” in Russian oil purchases and that buying decisions continue to be driven by economics. That contradiction raises questions about whether tariffs are achieving strategic outcomes or just straining relations with the US’s key partners.

Criticism Of the Summit As A Win For Putin

Ukraine’s leaders described the summit as anticlimactic, saying Putin had simply bought more time without conceding anything. US outlets highlighted how the spectacle of red carpets, military flyovers, and Trump sharing his limousine with Putin overshadowed the lack of substance. Analysts at the Atlantic Council went further, calling it a diplomatic victory for Putin. Putin gained ceremony and legitimacy while offering nothing in return. Within Washington, Democrats on the House Foreign Affairs Committee criticized the strategy as “smoke and mirrors,” arguing that “tariffing India won’t stop Putin” and that direct action against Moscow would be more effective.

Energy Markets Left In Uncertainty

Russian oil remains the lever Trump has chosen to pull, but the two-to-three-week delay in decisions on sanctions creates instability. Buyers do not know whether relief will last or whether harsh penalties will suddenly appear in September. India faces immediate economic consequences. While China sits in limbo waiting to see if Trump follows through. European partners are watching closely, too, since Putin warned them not to “disrupt the emerging progress.”

The Alaska summit has left more questions than answers. Putin avoided accountability for the war in Ukraine, secured global visibility, and positioned himself as an equal on the world stage. Trump walked away with no deal but kept the option of tariff relief on Russian oil buyers alive for a short while. The lack of clarity on the next steps is already shaping market sentiment and international diplomacy. With the August 27 tariff deadline approaching for India and a two-to-three-week clock ticking for China, the real test will be whether Trump uses this pause to build leverage or whether it simply becomes another delay that strengthens Putin’s hand.