U.S. Treasury Secretary Scott Bessent warned Chinese officials during trade talks in Stockholm on July 29, 2025, that continued purchases of sanctioned Russian oil could trigger tariffs as steep as 100%, based on pending legislation in Congress. China responded by defending its energy sovereignty, stating it would rather pay tariffs than curb imports.
Congressional proposals under President Trump authorize tariffs ranging from 100% up to 500% against countries importing Russian oil, with bipartisan Senate support targeting China and India.
Bessent also expressed U.S. displeasure at China’s continued purchases of sanctioned Iranian oil and exports of over $15 billion in dual-use technologies to Russia—potentially aiding its war machine. Chinese officials maintained energy independent policy and signaled willingness to accept high tariffs if necessary.
President Trump announced a deadline—10 to 12 days from July 29—for Moscow to make peace progress or face secondary tariffs on its oil buyers. Bessent reiterated that countries purchasing Russian oil should prepare for financial consequences.
These warning marks a significant escalation in U.S. trade policy and sanctions enforcement aimed at economically pressuring Russia through its global oil customers. Bessent emphasized that European allies may follow suit, creating a coordinated front against Russian energy revenues.
