US Claims India Halted Russian Oil Buys After Trump's 25% Tariff; 500% Bill Looms

• US Treasury Secretary Scott Bessent stated India stopped buying Russian oil after a 25% tariff imposed by President Donald Trump.
• Bessent's remarks were made at the World Economic Forum, noting India had "geared down" purchases.
• A proposed Russia Sanctions Bill by Senator Lindsey Graham could impose 500% tariffs on countries buying Russian crude.
• While the bill targets China primarily, Bessent believes Trump has existing authority under IEPA for such actions.
• India defends its Russian oil imports, citing global market conditions and the need for affordable energy, with MEA monitoring developments.

Why It Matters: US claims India ceased Russian oil imports due to Trump's tariff, while a 500% tariff bill targets other buyers.