US Finance Minister Attacks EU Over India Trade Deal, Russian Oil Purchases

• US Finance Minister Scott Bassant criticized the EU at Davos 2026 for prioritizing a trade deal with India over joint tariffs on Russia.
• Bassant accused European allies of deliberately avoiding US sanctions on Russian oil to finalize their free trade agreement with India.
• He alleged that European countries are indirectly funding the war by purchasing refined Russian oil from India, calling it 'irony and foolishness'.
• Bassant hinted at potentially removing the 25 percent additional tariffs on India due to decreased Russian oil imports by India.
• The US currently imposes a total of 50 percent tariffs on India, which India deems 'unfair and impractical'.

Why It Matters: America expresses strong displeasure over the India-EU free trade deal and Europe's stance on Russian oil.