China has made it clear that it won’t alter its energy policy under foreign pressure, including from the United States, which has urged Beijing to stop importing oil from Russia and Iran, according to the Associated Press.
In a statement, China’s Ministry of Foreign Affairs said, “We will ensure our energy security based on national interests. External coercion or pressure won’t work. China will firmly protect its sovereignty, security, and development goals.”
Commenting on recent discussions, U.S. Treasury Secretary Scott Bessent acknowledged that China strongly values its sovereignty when it comes to buying Russian oil. “We’re not trying to interfere with that, but they’ve proposed paying a 100% tariff,” Bessent noted.
He described Chinese negotiators as “tough,” but said talks are still moving forward. “I think we’re on track to strike a deal,” he added.
However, Gabriel Wildau, managing director at Teneo, questioned the feasibility of Trump’s threat to impose a 100% tariff on Chinese oil imports. “If enforced, it could undo all recent progress and likely destroy any chance of a deal if Trump and President Xi meet later this year,” he warned.
The U.S. is aiming to cut oil exports from Russia and Iran, arguing that energy revenues fund their military activities—Russia’s war in Ukraine and Iran’s support for armed groups in the Middle East.
Since the Ukraine invasion, China and India have emerged as key buyers of Russian oil, helping Moscow finance its military efforts. India, however, has said it would consider halting Russian oil purchases if Washington imposes sanctions.
