The US may allow duties of up to 500% for countries importing Russian oil – Bessent

U.S. Secretary of the Treasury Scott Bessent has warned Chinese officials that continued purchases of sanctioned Russian oil will result in high tariffs. About writes Reuters.

According to him, the US Congress already has a bill that would allow the president to To Donald Trump impose duties of up to 500% on countries that buy Russian oil.

The US side expects that US allies will join such measures to limit the Kremlin's energy revenues.

Trump had earlier shortened the deadline for Moscow to move forward in peace talks on the war against Ukraine. If there is no progress, due to 10-12 days for buyers of Russian oil can receive secondary tariffs of 100%.

Chinese officials responded that they consider energy policy to be a matter of national sovereignty and will make decisions based on domestic needs.

"The Chinese take their sovereignty very seriously. We don't want to interfere with their sovereignty, so they want to pay 100% duty."bessent said.

China remains the largest buyer of Russian oil, consuming about 2 million barrels per day. This is followed by India and Turkey.

Bessent also expressed dissatisfaction with the fact that China continues to buy Iranian oil and sell Russia dual-use goods worth more than $15 billion, which are used in the war against Ukraine.

• July 14, Trump gives Russia 50 days to conclude of the peace agreement, otherwise, he threatened to impose secondary duties on countries that buy resources from the aggressor state.
• On July 29, Trump said that Putin has 10 days to resolve the war against Ukraine. Otherwise, he will impose duties and other measures. At the same time, the US president believes that the settlement of the war in Ukraine will take a long time.