US Treasury Secretary Scott Bessent has warned Chinese officials that continued purchases of sanctioned Russian oil could lead to tariffs under a bill pending in Congress. He announced this during a press conference after the conclusion of two-day trade talks between the US and China in Stockholm. transmits Reuters.
Bessent explained that the bill gives President Trump the opportunity to impose tariffs of up to 500% on countries that buy sanctioned Russian oil. This, in his opinion, can push US allies to take similar actions in order to reduce Russia’s profits from energy resources.
“So I think anyone who buys Russian oil under sanctions should be prepared for that.”, – noted Bessent.
According to the American minister, in response, Chinese officials emphasized that China is a sovereign state with its own energy interests, so oil purchases will be made in accordance with the country’s domestic policy.
“The Chinese take their sovereignty very seriously. We don’t want to interfere with their sovereignty, so they would like to pay 100% duty.” – explained Bessent.
Separately, the minister expressed U.S. concern that China continues to purchase sanctioned Iranian oil, as well as supply Russia with more than $15 billion worth of dual-use technology goods, which, he said, is contributing to the escalation of Moscow’s war against Ukraine.
Bessent said he had warned his counterpart, Chinese Vice Premier He Lifeng, that further shipments of Chinese goods, which are ultimately used by Russia in weapons production, would hurt Beijing’s efforts to forge closer trade relations with European countries.
