Treasury chief: US poised to impose secondary tariffs on Russian oil trade

The United States is preparing to introduce secondary tariffs of up to 100% on countries that purchase Russian oil, according to Treasury Secretary Scott Bessent. 

The move, aimed at tightening pressure on Moscow, would also serve as a test of transatlantic unity, with Washington expected to urge European allies to adopt similar measures, Caliber.Az reports per foreign media.

Bessent said the timing of the decision remains uncertain, but stressed that any buyers of sanctioned Russian oil could soon face steep penalties.

He also noted a growing consensus in Washington, with both the Senate and President Trump backing the use of tariffs as a political instrument — a shift he described as transformative.

In a pointed message to Europe, Bessent called on US allies to move beyond rhetoric and align with Washington’s strategy if the tariffs are enacted.

Regarding China, Bessent said there would be "talks in the very near future."

"I think trade is in a good place and, I think, now we can start talking about other things. The Chinese unfortunately ... are very large purchasers of sanctioned Iranian oil, sanctioned Russian oil," he said.

"We could also discuss the elephant in the room, which is this great rebalancing that the Chinese need to do."

By Aghakazim Guliyev