Following former US President Donald Trump’s suggestion of tariffs on China, ranging from 50-100%, aimed at curbing Russian oil purchases, China responded strongly, stating it does not plot or engage in wars. China is recognized as one of the largest buyers of Russian oil.
Wang Yi, speaking at a joint news conference with his Slovenian counterpart in Slovenia’s capital, Ljubljana, stated that war is not a solution, and sanctions only worsen matters. Trump, in a letter to NATO members and the world, called for major sanctions against Russia if all NATO nations agreed and stopped buying Russian oil. He noted a lack of full commitment from NATO and criticized the purchase of Russian oil, which he claimed weakened their position. Trump indicated he was ready to act in unison with the members.
The US previously imposed a 50% tariff on India for purchasing Russian oil. However, similar sanctions have not yet been applied to China, despite its ‘all-weather’ strategic alliance with Moscow. The US has also been urging G7 countries, which include many NATO members, to increase pressure on Russia by implementing tariffs on India and China, both major purchasers of Russian oil.
US Secretary of the Treasury Scott Bessent, in a statement to the G7 Finance Ministers, emphasized that only a unified effort to cut off the revenues funding Putin’s war machine would provide sufficient economic pressure to halt the senseless killing.