Trump Aide: EU Refused India Tariffs Due to 'Big Trade Deal'

• US Treasury Secretary Scott Bessent claimed American tariffs caused a sharp fall in India's Russian oil purchases, calling it a policy success.
• Bessent stated the US imposed 25% tariffs on India for buying Russian crude, leading to a collapse in Indian refinery imports.
• He criticized European allies for not imposing similar measures on India, citing their desire to finalize a major trade agreement with New Delhi.
• Bessent highlighted that Russian oil imports by India surged from 2-3% to 18-19% after the Ukraine invasion, generating "huge profits" for India.
• He also pointed out the irony of European countries buying refined products from Indian refineries using Russian crude, calling it "financing the war against themselves."

Why It Matters: US tariffs significantly reduced India's Russian oil imports, while EU prioritized a trade deal over similar sanctions.