India’s Russian oil trade: US secretary claims India ‘geared down and stopped’; threat of 500% tariff legislation looms
US Treasury Secretary Scott Bessent claimed that India has scaled back purchases of Russian oil following trade action taken by President Donald Trump, linking New Delhi’s move to the imposition of tariffs by Washington.
Speaking at the World Economic Forum in an interview with Fox Business, Bessent, talking about the Russian Sanctions Bill, said India began buying Russian crude after the Ukraine war started but “geared down and stopped” such imports after Trump imposed a 25 per cent tariff.
