US tells other G7 states to introduce tariffs against buyers of Russian oil

The US administration has told representatives from other Group of Seven (G7) states that they must introduce tariffs on the countries that purchase Russian oil, the US Department of the Treasury and the office of US Trade Representative Jamieson Greer said in a joint statement, Report informs via TASS.

The statement noted that at earlier consultations with the G7 countries (the UK, Germany, Italy, Canada, the US, France and Japan), US Treasury Secretary Scott Bessent "reiterated President Trump's call to our G7 partners that, if they are truly committed to ending the war in Ukraine, they should join the United States in imposing tariffs on countries purchasing oil from Russia."

Bessent and Greer "also welcomed commitments to increase sanctions pressure and explore using immobilized Russian sovereign assets to further benefit Ukraine's defense."

They also pointed out the need for a "unified effort" of Western countries to cut off Russia's revenues and "apply sufficient economic pressure."

"We are encouraged by the assurances of our fellow G7 nations that they are committed to ending this war, and we are hopeful that they will join us in taking decisive action at this critical time," the Department of the Treasury quoted them as saying.

Earlier, Reuters noted that the G7 had discussed the possibility of introducing sanctions and duties against the countries which, in its opinion, support Russia in the Ukraine conflict.

Finance ministers from the UK, Germany, Italy, Canada, the US, France and Japan said in a joint statement that they "discussed a wide range of possible economic measures to increase pressure on Russia, including further sanctions and trade measures, such as tariffs, on those enabling Russia's war effort."

On the eve of the meeting Bloomberg said, citing sources, that the G7 finance ministers will discuss potential secondary sanctions against China and India for purchasing Russian oil.

Earlier, the Financial Times noted that the European Union is discussing potential sanctions against China and third countries for purchasing Russian oil and gas.

Additionally, according to its sources, US President Donald Trump urged the EU to raise tariffs for China and India to 100% to intensify pressure on Russia in order to settle the Ukraine conflict.