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I just kind of get this sense that oil traders seem to think Trump hasn't really been

that tough on Putin.

Like he's saying all these things.

And, you know, even for secondary tariffs, if you remember back a few weeks or a month ago,

he was threatening 100%.

Now he's doing 25%.

And it's...

There are other things he could have done, right?

He could sanction the tankers.

He could sanction the stay-owned refiners in India or, you know, do much more targeted effort

that will hurt Russia a lot more, but he hasn't.

U.S. President Donald Trump is going to Alaska this week to size up Russian President

Vladimir Putin. If it goes well, it could sow the seeds of the end of the war in Ukraine.

But if it doesn't go well, not only will the war drag on,

but the spats like the one with India and the US over New Delhi's continued purchases of Russian oil will continue.

Right, this is a proof point of a sort of thesis that the Trump administration has, right?

...