US warns China on Russian oil purchases that could bring 100% tariffs
Kyiv • UNN
The US Treasury Secretary warned China about high tariffs on Russian oil, but Beijing declared the protection of energy sovereignty. China remains the largest buyer of Russian oil, despite the threat of sanctions.
US Treasury Secretary Scott Bessent said on Tuesday that he had warned Chinese officials that further purchases of sanctioned Russian oil would lead to high tariffs due to a bill in Congress, but he was told that Beijing would defend its energy sovereignty, UNN reports with reference to Reuters.
Details
Concluding two days of US-China trade talks in Stockholm, Bessent said he also expressed US dissatisfaction with China's purchases of sanctioned Iranian oil and sales of dual-use goods worth over $15 billion to Russia, which contributed to Russia's war against Ukraine.
Bessent said that the US Congress's adoption of a law allowing Trump to impose tariffs of up to 500% on countries buying sanctioned Russian oil would encourage US allies to take similar steps to deprive Russia of energy revenues.
On Monday, Trump shortened the deadline for Moscow to make progress on a peace agreement regarding Russia's war against Ukraine, otherwise buyers of its oil would be subject to secondary tariffs of 100% within 10-12 days, reflecting his growing dissatisfaction with Russia's actions.
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Therefore, I think anyone who buys sanctioned Russian oil should be prepared for this
China's response
Chinese officials responded by saying that China is a sovereign state with energy needs, and oil purchases will be made in accordance with the country's domestic policy, Bessent said.
"The Chinese take their sovereignty very seriously. We don't want to limit their sovereignty, so they are willing to pay a 100% tariff," Bessent said.
China, it is noted, remains the largest buyer of Russian oil, buying about 2 million barrels per day, followed by India and Turkey.
Bessent said he also warned his counterpart, Chinese Vice Premier He Lifeng, that China's continued sales of goods to Russia that are subsequently converted into weapons would harm its efforts to strengthen trade ties with Europe.
"I pointed out to them that the perception of them by the public in Europe is very much harmed by their contribution to the war on the European border," Bessent said.