US EditionTrump’s New Plan to End the Ukraine War: Crush Russia’s Oil Money
CHINA, AUG 8 – China insists its Russian oil imports follow international law amid U.S. threats of secondary tariffs targeting major buyers, with imports valued at over $10 billion in July, customs data show.
- On August 8, the Chinese Foreign Ministry responded, 'it is legitimate and lawful' for China to cooperate with Russia after US pressure over tariffs on India.
- The United States aims to pressure Russia by targeting its trading allies, with President Donald Trump indicating he may punish China with additional tariffs, 'that may happen.'
- Latest figures reveal China’s imports from Russia rose in July to just over $10 billion, but are down 7.7% overall this year compared with 2024.
- Economists say secondary sanctions could trigger a global oil supply disruption, raise inflation, and prevent Federal Reserve rate cuts, as the US considers such measures.
- Market participants note August 8 could mark a tipping point for global energy market volatility as President Donald Trump signals interest in brokering a Russia-Ukraine peace deal.
27 Articles
27 Articles
China vows to continue buying Russian oil amid Trump's tariff threats
"It is legitimate and lawful for China to conduct normal economic, trade and energy cooperation with all countries around the world, including Russia," China's Foreign Ministry said in response to question about Russian oil purchases posed by Bloomberg. "We will continue to adopt reasonable energy security measures in accordance with our national interests."
Trump’s New Plan to End the Ukraine War: Crush Russia’s Oil Money
PUBLISHED on August 8, 2025, 12:09 PM EDT – Key Points and Summary – President Trump’s strategy to end the Ukraine war by crippling Russia’s economy through “secondary tariffs” on its oil partners faces a critical test as a key deadline passes. Trump believes collapsing oil prices will force Putin to capitulate. While existing sanctions have hurt Russia’s economy and reduced oil revenue, the Kremlin has so far brushed off the threats. The first …
China has said its imports of Russian oil are “legal and justified”, rejecting US threats to impose new tariffs after Washington imposed additional tariffs on India for energy purchases from Moscow.
India, China in the crosshairs as US eyes retaliation over Russia ties
As President Donald Trump moves to further isolate Russia over its ongoing war in Ukraine, the Kremlin's trade relationships with China and India could soon come under scrutiny.Trump has previously singled out the top buyers of Russian energy since the war began, accusing them of blunting the impact of Western sanctions and helping to sustain Russia’s economy.CHINA’S OIL TIES WITH RUSSIA IS A TRADE FLASHPOINT, US SAYSChina and India lead that li…
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