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US Treasury Secretary: European Secondary Tariffs on Russian Oil Could End War in 60–90 Days
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![Photo of Cyril Barabaltchouk]( "Photo of Cyril Barabaltchouk")
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US Treasury Secretary Scott Bessent has made it clear that the Trump administration will not impose additional tariffs on Chinese goods related to Russian oil purchases unless European nations impose them first, statement came in an interview to Reuters on September 15.
Bessent emphasized that European countries need to increase their efforts in cutting off Russian oil revenue to help bring the war in Ukraine to an end.
“We expect the Europeans to do their share now, and we are not moving forward without the Europeans,” Bessent said when asked about the US stance on tariffs targeting Chinese goods.
Bessent criticized the purchases of Russian oil by both European countries and China, stating that Europe must impose tariffs on China and India, who have been buying Russian oil, in order to curb Moscow’s primary revenue stream, Reuters writes.
“If Europe put on substantial secondary tariffs on the buyers of Russian oil, the war would be over in 60 or 90 days,” Bessent claimed, arguing that these measures would target Russia’s main financial lifeline.
As part of his broader strategy, Bessent highlighted the US move to impose an additional 25% tariff on Indian imports, marking progress in talks with India.
Looking forward, Bessent noted that the US is willing to work together with European partners to impose steeper sanctions targeting Russian entities, including oil giants Rosneft and Lukoil.
Additionally, Bessent suggested using Russia’s frozen sovereign assets, estimated at $300 billion, to help support Ukraine through mechanisms such as loans backed by the assets.
Previously, it was reported that the 50% tariffs imposed by the US on India, along with European Union sanctions on India’s Rosneft refinery, have unintentionally increased the discount on Russian oil, making it even cheaper for largest buyers of Russian oil, including China, which has started intercepting some of India’s supplies.
