US Treasury Chief: India Halted Russian Oil Buys After Trump's 25% Tariffs

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News18•21-01-2026, 07:19
US Treasury Chief: India Halted Russian Oil Buys After Trump's 25% Tariffs
- •US Treasury Secretary Scott Bessent claimed India stopped buying Russian oil after a 25% tariff imposed by then-President Trump.
- •Bessent's remarks were made during an interview with Fox News on Wednesday.
- •India began purchasing Russian oil after the Ukraine conflict started, according to Bessent.
- •The comments come as Washington considers a Russia Sanctions Bill proposing 500% tariffs on countries buying Russian oil.
- •Senator Lindsey Graham authored the bill, which has Trump's political clearance but awaits US Senate approval.
Why It Matters: US Treasury Secretary claims India ceased Russian oil imports due to Trump's 25% tariffs.
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