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China stands firm on Russian oil despite US pressure
04-08-2025 13:18
China stands firm on Russian oil despite US pressure
China stands firm on Russian oil despite US pressure

Beijing has no intention of yielding to US threats or halting its purchases of Russian oil. Undeterred by mounting pressure from Washington, Chinese authorities plan to stay the course. According to Reuters, China will not alter its energy policy to align with the agenda of US President Donald Trump.

Last week, US Treasury Secretary Scott Bessent warned Chinese officials that continued imports of Russian crude could be subject to steep tariffs once Trump's latest ultimatum expires. In response, Beijing reminded Washington that China is a sovereign nation and decisions on energy procurement are made by its top leadership.

"The Chinese take their sovereignty very seriously. We don't want to impede on their sovereignty, so they'd like to pay a 100% tariff," Bessent said, adding that China remains the largest buyer of Russian energy exports.

Following two days of US-China trade talks, Bessent expressed dissatisfaction with China's long-standing purchases of Iranian oil. During his meeting with Vice Premier He Lifeng, Bessent also noted that ongoing deliveries of dual-use goods to Russia could undermine his efforts to strengthen trade relations with Europe.

Earlier, the Chinese foreign ministry responded cautiously to US threats. Washington had urged Beijing to halt imports of Russian crude oil, warning that "massive tariffs" would otherwise follow. However, these warnings had little effect. Ministry spokesperson Guo Jiakun reiterated that China’s energy security remains the top priority, adding that "no one wins in a tariff war." Chinese officials continue to echo this message amid escalating trade tensions stirred up by the White House.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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