US Treasury Secretary Scott Bessent warned China about tariffs for buying sanctioned Russian oil.
US Treasury Secretary Scott Bessent said he warned Chinese officials that continued purchases of sanctioned Russian oil could trigger punitive tariffs, citing legislation currently moving through the US Congress. In response, Beijing firmly asserted its commitment to protect its energy sovereignty, refusing to shift course on its oil sourcing strategy.
Scott Bessent said, as per Reuters, that he had also raised concerns over China’s ongoing imports of Iranian oil and over $15 billion worth of dual-use technology exports to Russia, which the US says are helping to sustain Moscow’s war against Ukraine.
“So I think anyone who buys sanctioned Russian oil should be ready for this," he said.
US Congress Pushes For Tariffs
Scott Bessent’s warning follows a move by US lawmakers to authorize President Donald Trump to impose tariffs as high as 500% on countries continuing to purchase sanctioned Russian oil. A secondary tariff of 100% is expected to be imposed in the next 10 to 12 days if Moscow fails to make concrete progress toward a Ukraine peace deal- a deadline Donald Trump accelerated earlier.
According to Scott Bessent, the legislation is designed not just to punish violators, but to pressure US allies to adopt similar measures that would choke off Russia’s energy revenues, a key funding source for its war effort.
China Pushes Back
Scott Bessent said Beijing made it clear that it considers oil purchases a matter of national sovereignty, with decisions based on internal economic and energy policy, not foreign pressure. He said, “China was very clear. They said they are a sovereign nation with energy needs, and their purchasing decisions will reflect that."
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