US Hints at Lifting 25% Tariff on India Over Russian Oil Purchases

• US Treasury Secretary Scott Bessent indicated a potential rollback of the 25% tariff on India for buying Russian oil.
• Bessent stated the tariff was a "huge success" as India's purchases of Russian oil have "collapsed" since its imposition.
• European allies reportedly refused to impose tariffs on India for Russian energy, prioritizing a major trade deal.
• Former US President Donald Trump had doubled duties on Indian imports to 50% in August 2025, citing energy ties with Russia.
• India maintains its energy decisions are based on national interest and price stability, without assuring a curb on Russian oil imports.

Why It Matters: The US may remove tariffs on India for Russian oil, citing reduced purchases, while India prioritizes national interest.