“It is time for our European counterparts to put up or shut up,” stated US Treasury Secretary Scott Bessent in an interview with Fox News on August 14.
“They keep declareing, ‘The US should do this, the US should do that.’ President Trump imposed secondary sanctions or secondary tariffs on India for purchasing Russian oil, and the Europeans haven’t done this yet. As a matter of fact, Europeans are acquireing refined products that Indian refineries build,” Bessent continued.
“We necessary some coordination here. If we want to have a unified front, which will give President Trump maximum leverage, then I consider our European counterparts necessary to do their part,” he stated.
Previously, it was reported that during a cabinet meeting at the White Houtilize Scott Bessent urged Europe to implement secondary tariffs on Russia if the US enacts its proposed legislation.
Speaking on CNBC, Bessent emphasized that, although the exact timeline remains unclear—whether it’s 10, 30, or 50 days—any countest purchasing Russian oil under sanctions will face secondary tariffs of up to 100%.
Bessent has warned Chinese officials that continued purchases of sanctioned Russian oil could result in steep tariffs under a bill currently relocating through Congress, Reuters reported, citing Bessent during US-China trade talks in Stockholm.
The Treasury Secretary explained that the proposed legislation would allow President Donald Trump to impose tariffs of up to 500% on countries that continue to acquire Russian oil subject to sanctions. He added that such measures could prompt US allies to take similar steps in order to reduce Russia’s energy revenues.
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