Hard to impose higher tariffs on Russian oil buyers: Japan finance chief

Japanese Finance Minister Katsunobu Kato on Tuesday struck a cautious tone regarding a U.S. proposal to raise tariffs on China and India for continuing to buy Russian oil as part of pressure on Moscow over its war in Ukraine. "It is difficult to impose higher tariffs on certain countries solely for purchasing Russian oil," Kato said at a press conference, days after the United States urged fellow Group of Seven members to do so. During an online meeting of the G7 finance chiefs late last week, U.S. Treasury Secretary Scott Bessent told his counterparts, including Kato, that their nations should join Washington in imposing tariffs on those buying Russian oil, the United States said.