U.S. Warns China of 100% Tariffs Over Russian Oil Purchases

U.S. Treasury Secretary Scott Bessent has cautioned Chinese officials that continued imports of sanctioned Russian oil could trigger tariffs of up to 100%.

The Gaze reports this, referring to Reuters.

Speaking after two days of U.S.-China trade talks in Stockholm, Bessent said he expressed Washington’s growing concerns about Beijing’s purchases of both Russian and Iranian oil, as well as over $15 billion worth of dual-use technology exports to Moscow that have supported Russia’s war against Ukraine.

Bessent noted that the proposed legislation would authorize President Donald Trump to impose tariffs as high as 500% on nations buying sanctioned Russian oil and could prompt U.S. allies to take similar measures aimed at cutting Moscow’s energy revenues.

“Anyone purchasing sanctioned Russian oil should be prepared for these tariffs,” Bessent told reporters.

Chinese officials, however, defended their energy policy, saying that oil imports are a matter of national sovereignty. 

“The Chinese take their sovereignty very seriously. We don't want to impede on their sovereignty, so they'd like to pay a 100% tariff,” Bessent remarked.

China remains Russia’s largest oil buyer, averaging around 2 million barrels per day, followed by India and Turkey.

Bessent added that he also warned Chinese Vice Premier He Lifeng that the continued sale of goods that end up in Russian weaponry could damage China’s trade relations with Europe.

“I pointed out to them that it is very much hurting their public perception in Europe that they are contributing to the war on the European border,” Bessent said.

As The Gaze reported earlier, Ukraine has imposed sanctions on Chinese companies whose components were found in the “Shahed” drones after the Russian attack on 4 July.