In Beijing, the oil market responded calmly on Monday to President Donald Trump's warning about imposing tariffs on buyers of Russian oil, as traders have grown accustomed to such threats from the White House.

Trump's suggestion of imposing a 25% to 50% tariff on countries purchasing Russian oil would have a significant impact on the oil market if implemented. However, experts and traders question the seriousness of this latest threat from the president.

There is a sense of weariness among traders regarding the continuous announcements of tariffs and sanctions from the U.S. administration, according to Warren Patterson, the head of commodities strategy at ING. Until there is more concrete action, the market is not expected to react strongly.

Oil prices experienced a slight decrease on Monday, with June Brent crude futures dropping by 0.2% to $72.59 a barrel, and U.S. West Texas Intermediate crude falling by 0.3% to $69.18 a barrel.

China and India, major buyers of Russian crude oil, play a significant role in the effectiveness of any potential secondary sanctions on Russian oil exports. Recent sanctions on Russia have caused Chinese state oil companies to reduce or halt their purchases from Russia.

Despite Trump's threat, several Chinese traders seemed unfazed, viewing his statements as part of a pattern of bluffing. The traders expressed skepticism about the credibility and impact of Trump's words.

If the tariffs were to materialize, the market would monitor the enforcement of the policy and OPEC's response in increasing oil production to offset any reduction in Russian exports. The recent secondary sanctions imposed on Venezuelan oil could provide insight into the potential impact of similar policies on Russia, analysts suggest.

Ahead of the potential sanctions, Chinese buyers have temporarily ceased purchasing Russian oil. Nonetheless, traders anticipate some purchases to resume as buyers explore alternative solutions unless China prohibits such transactions.