The United States on Friday pressed its Group of Seven (G7) and European Union allies to impose tariffs on China and India over their continued purchases of Russian oil, warning that only a unified effort targeting Moscow’s energy revenues could force an end to the war in Ukraine.
The call came during a virtual meeting of G7 finance ministers chaired by Canadian Finance Minister François-Philippe Champagne, whose country currently holds the group’s rotating presidency.
A Canadian statement said ministers discussed accelerating efforts to use frozen Russian sovereign assets to fund Ukraine’s defense and considered “a wide range of possible economic measures,” including trade restrictions and new sanctions.
U.S. Treasury Secretary Scott Bessent urged allies to match Washington’s push for punitive tariffs, echoing a joint statement with U.S. Trade Representative Jamieson Greer. “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,” they said.
Earlier, a Treasury spokesperson called for “meaningful tariffs” on imports from China and India, two of Russia’s largest energy customers. The appeal followed President Donald Trump’s decision to impose an additional 25% tariff on Indian imports, raising total duties to 50% in a move that has strained U.S.-India trade ties.
However, Trump has so far held off from applying new tariffs on Chinese goods, citing a fragile trade truce with Beijing.
Bessent is scheduled to travel to Madrid for talks with Chinese Vice Premier He Lifeng, where discussions are expected to cover trade issues, U.S. demands that TikTok divest its American operations, and anti-money laundering cooperation.
The push for tighter economic measures came as Trump told Fox News his “patience with Putin is running out” but stopped short of announcing fresh sanctions. He suggested penalties on Russian banks and oil exports remained options but stressed that European allies must also take tougher action. “We’re going to have to come down very, very strong,” Trump said.
The U.S. proposal for coordinated tariffs signals mounting frustration in Washington that major buyers of Russian crude, including India and China, are undercutting Western efforts to choke off funding for Moscow’s war, now in its fourth year.
Source: Reuters
Written By Rodney Mbua
