Trump's Ally Scott Bessent Claims India Stopped Russian Oil Buys; Is 500% Tariff Off?

• Scott Bessent, a close associate of Donald Trump, claimed India has stopped buying oil from Russia due to Trump's 25% tariff.
• Bessent presented this as a success of Trump's 'tariff diplomacy' to protect the dollar's dominance and counter de-dollarization.
• The claim suggests that the threat of a 500% tariff on India might now be averted if Washington believes India complied.
• However, energy market data from Kpler indicates India continues to buy Russian oil, though quantities have fluctuated.
• India purchased an average of 1.18 million barrels per day from Russia in early June, a 30% decrease from last year but not a complete halt.

Why It Matters: Trump's ally falsely claimed India halted Russian oil imports, potentially easing tariff threats despite ongoing purchases.