Ten days remain to end the war: The US warns China about the repercussions if it continues purchasing Russian oil.

Treasury Secretary Scott Bessant informed China that buying sanctioned Russian oil could result in hefty tariffs. He mentioned that a bill is already in Congress allowing President Trump to levy up to 500% duties on nations buying Russian oil.

The US hopes that the Western allies will join forces to curb Russia’s energy income. Beijing, however, has stated that energy policy is a matter of national sovereignty and will be based on domestic needs. China remains the largest importer of Russian oil, around two million barrels daily, followed by India and Turkey.

Bessant also expressed concern over China selling Russia over $15B worth of dual-use goods that have been used in the war against Ukraine. On July 29, US President Donald Trump said Putin had 10 days to reach a peace agreement with Ukraine, or tariffs would be imposed. Trump noted he had no response from Russia and suggested Putin wants to continue the war.

US Senator Richard Blumenthal urged hastening sanctions legislation targeting Russia. In response, Putin’s spokesperson Dmitry Peskov said Russia has become immune to sanctions, indicating Moscow does not intend to accept Trump’s terms. Conversely, Senator Lindsey Graham said that Trump plans to impose duties on countries that are importing hydrocarbons from Russia, supporting Moscow’s military efforts.