US President Donald Trump has initiated the creation of a special "victory fund" to support Ukraine, with funds planned to be channeled from revenues from new tariffs on Chinese goods, The Telegraph reported, citing White House sources.

According to the publication, Trump instructed Treasury Secretary Scott Bessent to present the concept to European partners ahead of Ukrainian President Volodymyr Zelenskyy's visit to Washington, scheduled for Friday. Commenting on the idea in Brussels, Bessent noted:

"President Trump has instructed the Ambassador and me to inform our European allies that we support what could be called a 'Russian oil tariff' on China or a 'Ukrainian victory tariff' on China."

The proposed tariff level reaches 500 percent on imports from China, which will finance Kyiv's arms purchases and increase pressure on Moscow through Beijing, Russia's largest oil buyer. A similar approach was previously applied to India, with a 25 percent tariff added to its purchases from Russia.