US Treasury Secretary Scott Bessent has called on US European allies to join secondary sanctions against importers of Russian energy products if such sanctions are approved by the US Congress.
During an interview with CNBC on Monday, Bessent said the United States Senate agreed with President Donald Trump’s view that trade duties are a tool to achieve political goals and called on European countries “that have talked a big game to follow us if we impose these secondary duties.”
At issue is a bill being considered by the Senate that would impose 500 per cent import duties on goods from countries that buy oil from Russia. The Treasury Secretary, however, mentioned 100 per cent duties.
In an interview with CNBC, the US Treasury Secretary also said that China’s purchase of Russian and Iranian oil will be one of the topics of US-China talks on import duties.
“The Chinese, unfortunately, are big buyers of sanctioned Iranian and Russian oil. And we can start discussing this topic,” Scott Bessent emphasised.
On 14 July, US President Donald Trump announced his intention to impose “harsh” duties against Russia if it refuses to agree to a truce with Ukraine within fifty days. Later, the White House clarified that the duties would also be imposed on goods from countries that buy Russian oil.