China Rejects U.S. Demands to Cease Buying Russian Oil

China has effectively dismissed the United States’ insistence on cutting off Russian oil supplies. According to the U.S. Treasury Secretary, speaking after negotiations held on July 29, Chinese officials responded to the proposal to cease purchasing Russian and Iranian oil by stating that they would defend their energy sovereignty and prefer to continue paying a 100% tariff.

Additionally, the American side issued a warning that a new bill in Congress could allow President Trump to impose tariffs of up to 500% on sanctioned Russian oil shipments.

Previously, the two sides agreed to extend their trade truce for another 90 days. It remains unclear whether this extension prevents the U.S. president from implementing secondary sanctions against Moscow targeting China.