The United States has urged its allies in the G7 and the European Union to impose tariffs on countries such as China and India for continuing to purchase Russian oil, saying such actions are “enabling” Moscow’s war in Ukraine.
The call was made during a meeting of G7 finance ministers on Friday, chaired by Canadian Finance Minister Francois-Philippe Champagne. The session, convened under Canada’s rotating G7 presidency, focused on strengthening measures aimed at forcing Russia to end its invasion.According to Canada’s statement, the ministers agreed to accelerate talks on using frozen Russian assets to support Ukraine’s defense. They also explored a “wide range of possible economic measures,” including further sanctions and tariffs targeting nations indirectly supporting Russia’s war effort.U.S. Treasury Secretary Scott Bessent emphasized during the discussion that only a coordinated global approach could cut off the financial flows sustaining Moscow’s military operations. In a joint statement with U.S. Trade Representative Jamieson Greer, Bessent said: “Only with a unified effort that cuts off the revenues funding Putin’s war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing.”
The U.S. officials also welcomed commitments made by G7 members to tighten sanctions and consider deploying immobilized Russian sovereign assets to benefit Ukraine. They stressed that collective economic action was vital to maintaining pressure on Russia and curbing its ability to finance the conflict.
The move underscores Washington’s determination to rally international partners against nations trading with Moscow, particularly those purchasing discounted Russian oil, as the war enters a prolonged phase.
G7 Ministers Discuss Sanctions, US Calls for Tariffs on China and India
