Bessent warns China about the purchase of Russian oil that can carry 100% tariff

Minister of Finance US Scott Besent on Tuesday said he warned that Chinese officials continue to buy agreed Russian oil will cause a large tariff because of the law at the congress, but it is told that Beijing will protect his energy sovereignty.

Ending two days of US trade talks at Stockholm, Besent said he also expressed US displeasure for the purchase of Iranian oil approved by China, and his sales were more than $ 15 billion of double use technology to Russia which had supported the Moscow War against Ukraine.

Bessent said the law at the US Congress that endorsed Trump to collect a tariff of up to 500% in countries that bought agreed Russian oil would attract US allies to take similar steps to cut Russian energy income.

Trump on Monday shorten the deadline for Moscow to make progress towards the Ukraine war peace agreement or see that his oil customers were slapped at a secondary rate of 100% in 10 to 12 days, reflecting his greater frustration with Russian actions.

“So I think anyone who buys an approved Russian oil must be prepared for this,” Besent said at a press conference.

Chinese officials responded by saying that China is a sovereign country with energy needs, and oil purchases will be based on the country’s internal policy, Bessent said.

“The Chinese consider their sovereignty very seriously. We don’t want to obstruct their sovereignty, so they want to pay a 100%tariff,” Bescent said.

China remains the largest Russian oil buyer, around 2 million barrels per day, followed by India and Türkiye.

Bessent said he had also warned his colleague, Deputy Prime Minister he Lifeng, that continuing to sell Chinese goods to Russia which ended with weapons would hurt his efforts to improve trade relations with Europe.

“I showed them that very hurting their public perception in Europe that they contributed to the war against the European border,” Besent said.
Source: Reuters