The U.S. Treasury has urged its Group of Seven (G7) and European Union (EU) allies to implement “meaningful tariffs” on goods from China and India to curtail their purchases of Russian oil, thereby cutting off funding for Russia’s war in Ukraine.

A Treasury spokesperson stated that Chinese and Indian oil purchases are financing President Putin’s war and prolonging the conflict, and that the U.S. has called on EU allies to join in imposing tariffs that would be rescinded upon the war’s end.

The text notes President Trump previously imposed a 25% tariff on Indian imports to deter its acquisition of discounted Russian crude oil, increasing total duties to 50% and impacting trade talks, but has refrained from similar actions on Chinese imports due to ongoing trade truce negotiations. Treasury Secretary Scott Bessent is set to meet with Chinese Vice Premier He Lifeng to discuss trade, TikTok’s divestment, and anti-money laundering issues.

President Trump expressed his waning patience with President Putin, citing tariffs and sanctions on banks and oil as potential pressure tactics, emphasizing the necessity of European cooperation and a strong, unified approach from G7 partners.

with information from Reuters