U.S. Treasury Urges G7 Action Against Chinese and Indian Oil Imports

The U.S. Treasury has issued a call to action for Group of Seven (G7) and European Union (EU) allies, urging them to impose 'meaningful tariffs' on products from China and India. This strategic proposition aims to curb their procurement of Russian oil, a crucial funding source for Moscow's ongoing military actions in Ukraine.

A spokesperson for the U.S. Treasury, in an emailed statement to Reuters, emphasized the importance of these measures. 'Chinese and Indian purchases of Russian oil are prolonging the conflict in Ukraine by financing President Putin's war machine,' the spokesperson stated.

The Treasury clarified to its EU counterparts the urgency of acting decisively. 'Our partners must join our efforts and enforce tariffs that will only be lifted once peace is achieved,' the spokesperson added, noting the commitment of the Peace and Prosperity Administration under President Trump to these objectives.

(With inputs from agencies.)