U.S. Warns China of 100% Tariffs on Russian Oil Purchases
By Global Leaders Insights Team | Jul 30, 2025
U.S. Treasury Secretary Scott Bessent issued a stern warning to China, saying that buying sanctioned Russian oil could lead to hefty tariffs.
Speaking at a press conference after two days of trade talks in Stockholm, Sweden, Bessent highlighted new U.S. legislation that allows President Donald Trump to slap tariffs as high as 500% on countries purchasing Russian oil. The talks aimed to smooth over economic tensions between the U.S. and China, the world’s two biggest economies.
Bessent stressed that these tariffs could push U.S. allies, like NATO countries and Canada, to take similar steps to cut off Russia’s energy profits, which are funding its war in Ukraine. On Monday, President Trump ramped up the pressure, giving Russia just 10-12 days to show progress toward peace in Ukraine or face 100% tariffs on nations buying its oil. “Anyone buying sanctioned Russian oil should be ready for this,” Bessent said firmly.
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China, which buys about 2 million barrels of Russian oil daily, along with India and Turkey, pushed back. Chinese officials insisted their energy purchases are a matter of national need and independence. Bessent quoted them saying, “China is a sovereign nation.” He shot back, “We respect their sovereignty, but they might have to deal with a 100% tariff.”
Bessent also called out China for buying sanctioned Iranian oil and selling over $15 billion in tech to Russia that could be used in the war. He warned China’s Vice Premier He Lifeng that these actions are hurting China’s image in Europe, saying, “It’s very much hurting their public perception in Europe that they’re contributing to the war on the European border.”
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The talks were described as “open and productive” but didn’t touch on issues like TikTok or Taiwan’s diplomatic moves. Meanwhile, oil prices jumped over 3% on Tuesday, with Brent crude hitting $72.51 and WTI reaching $69.21, as markets worried about possible supply issues.
