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News Topical, Digital Desk : US Treasury Secretary Scott Bessent has made the bold claim that India has virtually stopped buying Russian oil because President Donald Trump imposed a 25 percent tariff on India.
Besant said that India had started buying Russian crude oil after the Ukraine war started, but after Trump's tariff, India reduced its purchases significantly and has now almost stopped it.
Scott Bessant made this statement in an interview with Fox News. He cited India as an example of how US pressure can force countries to change their policies. He also stated that the US is now preparing to take even tougher measures against other countries.
Trump administration's anti-Russia plan
A proposed bill is being discussed in the US, introduced by Senator Lindsey Graham, that could impose tariffs of at least 500 percent on countries buying Russian oil.
Bessent said that President Trump does not need Senate approval to take such drastic action. He can do so under the IEPA (International Emergency Economic Powers Act). But the Senate wants to give Trump even stronger powers by passing this bill.
Trump has already given political approval to the bill, although it is still pending consideration in the Senate. The legislation's primary target is China, which remains the largest buyer of Russian oil. US officials believe these Chinese purchases are providing Russia with funds to continue the war in Ukraine.
India's example, but strict on Europe and China
Besant said that India has caved in to American pressure. He said that Trump's 25 percent tariffs have cut India off from Russian oil. But his biggest anger is directed at Europe and China.
He said that even after four years, Europe is still buying Russian oil, which is financing a war against itself. He focused most on China. The US believes that China is helping Moscow by buying Russian oil at discounted prices.
What is India's argument?
India has consistently justified its purchases of Russian oil. India maintains that its energy policy is based on global market conditions and providing affordable fuel to its people. India increased its purchases after the war due to the low prices of Russian oil, which helped control petrol and diesel prices.
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