Overview

• The Chinese Foreign Ministry declared that economic and energy cooperation with Russia is legitimate and lawful.
• Spokesperson Guo Jiakun pledged to continue purchasing Russian oil in line with China’s national interests.
• July customs figures showed China’s imports from Russia reached $10.06 billion, the highest monthly level since March despite a 7.7 percent year-to-date decline.
• President Xi Jinping held a phone call with Vladimir Putin ahead of his visit to this month’s Shanghai Cooperation Organization summit.
• President Trump warned he may impose additional tariffs on China’s Russian oil purchases, and Treasury Secretary Scott Bessent said such measures “could be on the table” as the tariff truce nears expiration.