US Urges G7 and EU to Impose Tariffs on China and India Over Russian Oil Amid Ukraine Conflict
The US urges G7 and EU allies to impose tariffs on China and India over Russian oil purchases, seeking to pressure Moscow amid the Ukraine conflict and explore using frozen Russian assets for Ukraine’s defense.
US Treasury Secretary Scott Bessent and G7 finance ministers discuss tariffs on Russian oil purchasers, including China and India, as part of broader economic measures against Russia over the Ukraine war.
The United States has called on G7 and European Union allies to impose tariffs on China and India for purchasing Russian oil, amid ongoing efforts to increase economic pressure on Moscow over the war in Ukraine. The appeal came during a G7 finance ministers’ meeting chaired by Canadian Finance Minister François-Philippe Champagne, aimed at discussing additional sanctions on Russia and trade measures targeting countries seen as “enablers” of its conflict.
During the call, US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer urged allies to join the U.S. in targeting Russian oil purchasers with tariffs. They highlighted that coordinated measures, including freezing Russian assets for use in Ukraine’s defense, are necessary to cut off revenues fueling Vladimir Putin’s war machine.
The G7 ministers discussed a broad spectrum of economic strategies, including additional sanctions and trade restrictions. Following the meeting, Bessent and Greer emphasized the importance of a unified global approach to pressure Russia, saying, “Only with a unified effort that cuts off the revenues funding Putin's war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing.”
President Donald Trump has already imposed extra tariffs on imports from India, raising duties to 50% to discourage New Delhi from buying discounted Russian crude. While China has also continued its oil purchases from Russia, the U.S. has not imposed additional tariffs, partly due to ongoing trade negotiations with Beijing.
Bessent is scheduled to travel to Madrid for further discussions with China’s Vice Premier He Lifeng, covering trade issues, TikTok’s U.S. divestment, and anti-money laundering concerns. Meanwhile, Trump reiterated his frustration over Putin’s continuation of the war and suggested that sanctions on banks and oil could be necessary, stressing that European participation is critical to the effectiveness of these measures.
