US Treasury Secretary Scott Bessent warned China of potential serious economic consequences if the country continues to purchase Russian oil that is under sanctions. As Bessent noted, a legislative initiative is already being considered in Congress that would allow President Donald Trump to impose tariffs of up to 500% on countries that import energy resources from the Russian Federation. The American side also expects that similar measures will be supported by allies to significantly limit financial flows to the Russian budget.
This is reported by Finway
China Ignores US Warnings
In response to Washington’s statements, Chinese authorities emphasized that energy policy is a matter of national sovereignty, and decisions regarding oil imports are made according to the country’s internal needs. China remains the main buyer of Russian oil, importing over 2 million barrels daily. Other major consumers include India and Turkey. Additionally, Bessent expressed dissatisfaction that China is selling dual-use goods to Russia worth over $15 billion, which could be used in the war against Ukraine.
US Pressure and Russian Federation’s Response
On July 29, US President Donald Trump announced that Putin has 10 days to reach a peace agreement with Ukraine, or large-scale trade restrictions will be imposed against the Russian Federation and its partners. Trump emphasized that after setting the deadline, he received no response from Russia, hinting at the Kremlin’s desire to continue the war. Meanwhile, Senator Richard Blumenthal called for the expedited approval of a bill to strengthen sanctions against Russia.
“Putin does not deserve any more time,” said US Senator Richard Blumenthal, commenting on the need for the swift passage of a new sanctions package against Russia.
In light of these events, Putin’s press secretary Dmitry Peskov stated that Russia has already “developed immunity” to sanctions, hinting at a lack of intention to comply with Washington’s demands. In response, Senator Lindsey Graham emphasized that the Trump administration is prepared to impose tariffs on countries that continue to purchase Russian energy resources, thereby supporting Moscow’s military machine. Graham noted that most members of Congress are ready to support these measures and assist the president on this issue.