Madrid, Spain - US Treasury Secretary Scott Bessent announced on Monday that the Trump administration will not sanction China over its purchasing of Russian oil unless Europe does so first.

Bessent called on Europe to clamp down firmer on Russian oil and "do their share" in sanctioning countries like China that are still purchasing natural resources from Moscow.

Speaking to Reuters and Bloomberg, Bessent declared that the US would not be moving forward with its own sanctions unless the Europeans introduce major levies against China and India.

"We expect the Europeans to do their share now, and we are not moving forward without the Europeans," Bessent told the publications.

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Bessent said that he had warned Chinese officials during talks in Madrid last weekend that the US had already sanctioned India and is urging Europe to impose tariffs of between 50% and 100% on China.

"I guarantee you that if Europe put on substantial secondary tariffs on the buyers of Russian oil, the war would be over in 60 or 90 days," Bessent claimed.

The comments come amid increasing calls from Bessent as well as President Donald Trump for Europe to cease all purchasing of Russian oil via second countries such as India.

In a post on Truth Social on Saturday, which was shared by Bessent, Trump said that if NATO countries place 50% to 100% tariffs on China across the board, Russia's war in Ukraine would quickly end.

"China has a strong control, and even grip, over Russia, and these powerful Tariffs will break that grip," Trump claimed.

During the talks in Madrid, Bessent announced that a framework was established between US and Chinese officials for a deal on the sale of TikTok.