‘India Has Stopped Buying Russian Oil’: US Treasury Secy Claims New Delhi Geared Down After Trump’s 25% Tariff | World News

President Donald Trump must get permission from the Senate to impose 500 percent tariffs on countries that buy Russian oil, U.S. Treasury Secretary Scott Bessent said Tuesday.

He said the implied tariff threat was aimed at China rather than India this time.

Regarding India, the Treasury Secretary said that New Delhi halted purchases of Russian oil following the Trump administration’s decision to impose 25% tariffs.

Bessent was referring to the Russia Sanctions Bill, which gives the United States the authority to impose tariffs of at least 500 percent on countries that continue to buy Russian oil. President Donald Trump signed the bill earlier this month.

“On the 500% tariff on buyers of Russian oil, that’s a proposal that Senator Graham has put before the Senate, and we’ll see if it passes. We don’t believe that President Trump needs that authority, that he can do it under the IEPA, but we believe that the Senate wants to give him that authority,” Bessent said in an interview on Fox Business.

While the White House official criticized Europe for continuing to buy Russian oil, he stated that New Delhi had stopped buying this oil.

He said: “Even though Europe is buying Russian oil, four years later they are still financing the war against them. India started buying Russian oil after the conflict started, but President Trump put a 25% tariff on them and India downshifted and stopped buying Russian oil.”

He also criticized China, one of the biggest buyers of Russian oil. For some time, the United States has been considering imposing customs duties of up to 500 percent on China due to its ongoing crude oil imports from Russia.

India’s response to 500 percent bill

Referring to the bipartisan US Russia Sanctions Bill, the Ministry of External Affairs said that India is aware of the proposed legislation and is closely following all relevant developments.

MEA spokesperson Randhir Jaiswal said, “We are fully aware that the proposed bill is under discussion and are carefully monitoring all relevant issues and developments connected to it.” he said.

On Jan. 8, U.S. Senator Lindsey Graham, in announcing details of the bill, said the proposed legislation would give President Trump “tremendous leverage” to pressure countries like China, India and Brazil to halt purchases of discounted Russian oil, which he said helped finance President Vladimir Putin’s war against Ukraine.

In October last year, Bessent stated that 85 US senators supported giving President Trump the authority to impose tariffs of up to 500 percent on China for purchasing Russian oil.