While Bessent did not mention India, or any other country, his remark about the EU imposing sanctions on countries who buy oil from Russia, was directly aimed at New Delhi which has been the prime target of Trump tariffs.
Trump tariffs: The recent thaw between US President Donald Trump and Prime Minister Narendra Modi, which reignited hopes of an upswing in the India-US relations, could be short-lived as another top White House official has resorted to anti-India rhetoric, urging US’ European allies to impose sanctions on “countries that buy Russian oil”.
Will Europe impose sanctions on India?
In an interview with NBC on Sunday, US treasury secretary Scott Bessent urged the European Union (EU) to follow in US’ footsteps and impose sanctions on countries buying Russian oil, to trigger a “collapse” of the Russian economy, which he believes would go a long way in ending the Russia-Ukraine war, and bring Russian President Vladimir Putin to the table to etch out a peace deal.
“We are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up? And if the US and the EU can come in with more sanctions, more secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse and that will bring President Putin to the table,” Bessent said.
While Bessent did not mention India, or any other country, his remark about the EU imposing sanctions on countries who buy oil from Russia, was directly aimed at India as New Delhi is the second-largest buyer of Russian oil after Beijing, and bore the brunt of Trump’s tariff attack for its energy purchases from Moscow.
Why Trump, Vance spoke to EU chief?
The US Treasury secretary revealed that Trump and his deputy JD Vance spoke to European Commission President Ursula von der Leyen about sanctions and tariffs on Friday. Later, the EU chief also spoke to him about sanctions, Bessent said.
“We (the US) are prepared to increase pressure on Russia, but we need our partners in Europe to follow,” Bessent added.
Asked about Trump tariffs being declared illegal by a US circuit court, pending an appeal in the US Supreme Court, Bessent expressed confidence that the Trump administration would emerge victorious in the top court.
Bessent’s comments come amid the recent thawing of relations between PM Modi and President Trump, who called India-US ties a “very special relationship” and affirmed that he and Modi would always be friends, asserting that there is “nothing to worry about”.
Trump tariffs on India
US President Donald Trump has imposed 25 percent reciprocal tariffs on Indian goods and an additional 25 percent levies for New Delhi’s purchases of Russian oil, bringing the total duties imposed on India to 50 percent, with effect from August 27.
India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022.
Defending its purchase of Russian crude oil, India has been maintaining that its energy procurement is driven by national interest and market dynamics.
HIGHLIGHTS
- The US has urged its European allies to put sanctions on “countries that buy Russian oil”.
- US treasury secretary Scott Bessent urged the European Union (EU) to follow in US’ footsteps.
- US President Donald Trump has imposed 50 percent punitive tariffs on Indian goods.
- Bessent’s comments come amid the recent thawing of relations between PM Modi and Trump.
Notably, top White House officials, including Vice President JD Vance, National Economic Council Director Kevin Hassett, Trump’s trade czar, Peter Navarro, have accused India of “funding” the Russia-Ukraine war with its voluminous purchases of Russian oil, that has invited punitive tariffs from Donald Trump.
Navarro had called the Russia-Ukraine conflict “Modi’s war”, and accused India of “profiteering” and “fueling Putin’s war machine” by purchasing Russian oil.
