China Confirms Russian Oil Purchases
(MENAFN) China continues to stand firm on its decision to import Russian oil despite growing pressure from the United States, according to comments made by Washington’s Treasury Secretary, Scott Bessent.
After two days of trade discussions between the US and China held in Stockholm on Tuesday, Bessent remarked that Beijing had made clear it would “defend its energy sovereignty” in response to any new expansive sanctions that might be approved by US lawmakers.
On Monday, US President Donald Trump shortened his initial 50-day window for achieving a peace accord in Ukraine to just “10–12 days,” warning that if no resolution is reached, “100% secondary tariffs” could be imposed on those purchasing Russian goods, including crude oil.
Officials in Russia have denounced Trump’s warning, asserting that such threats “undermine efforts” toward resolving the conflict in Ukraine.
Bessent also highlighted a draft bill being reviewed in Congress that would grant President Trump authority to enforce tariffs of up to “500%” on any party buying “sanctioned Russian oil.”
He suggested this could encourage US partners to introduce comparable restrictions, targeting Moscow’s earnings from energy exports.
“I think anyone who buys sanctioned Russian oil should be ready for this,” Bessent stated during his interaction with the media.
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