US secretary claims ‘India has stopped buying Russian oil’ after Trump’s 25% tariff, 500% tariff bill looms

‘India has stopped buying Russian oil’ after Trump’s 25% tariff, says US treasury chief

• US claims India stopped buying Russian oil after Trump imposed a 25% tariff
• Proposed US bill may allow tariffs of 500% on countries buying Russian oil
• India says energy imports are guided by market conditions and affordability

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US Treasury Secretary Scott Bessent claimed that India has stopped buying Russian oil after President Donald Trump imposed a 25 percent tariff, even as Washington weighs much steeper penalties on other buyers, particularly China.

Speaking in interviews with Fox News and Fox Business on the sidelines of the World Economic Forum, Bessent said New Delhi had “geared down” its purchases following the trade action.

“India started buying Russian oil after the conflict began,” Bessent said. “But President Trump put a 25% tariff on them, and India has geared down and has stopped buying Russian oil.”

His remarks came amid discussions in Washington over a proposed Russia Sanctions Bill, authored by Republican Senator Lindsey Graham, which would allow the US to impose tariffs of at least 500 percent on countries that continue to purchase Russian crude. While the bill is still before the US Senate, Bessent argued that Trump already has sufficient authority under existing law.

“On the 500% tariff on the buyers of Russian oil, that is a proposal that Senator Graham has in front of the Senate, and we will see whether that passes. We don’t believe that President Trump needs that authority, that he can do it under IEPA, but that the Senate wants to give him that authority,” Bessent said.

While citing India as an example of compliance, the US Treasury Secretary directed sharper criticism at Europe and China. “We have Europe buying Russian oil, still, four years later,” he said.

“They are financing the war against themselves.” China, one of Russia’s largest energy customers, remains the primary target of the proposed punitive tariffs, with US officials arguing that Beijing’s purchases are helping fund Moscow’s war in Ukraine.

Senator Graham has said the legislation would give Trump “tremendous leverage” over countries such as China, India, and Brazil to curb what he described as the financing of “Putin’s bloodbath against Ukraine.” Last October, Bessent had claimed that around 85 US senators were prepared to give Trump authority to impose tariffs of up to 500 percent on China for buying Russian oil.

India, however, has consistently defended its energy imports from Russia, maintaining that its decisions are guided by global market conditions and the need to ensure affordable supplies. The Ministry of External Affairs has stated that New Delhi is aware of the proposed bipartisan bill and is closely monitoring developments.

“We are fully aware of the proposed bill being discussed, and we are carefully monitoring all related issues and developments connected with it,” MEA spokesperson Randhir Jaiswal said, reiterating that India remains guided by the imperative of securing energy at affordable prices for its population.

The issue has gained renewed attention as Washington steps up pressure on major buyers of Russian oil, with the proposed sanctions bill emerging as a key tool in the Trump administration’s broader strategy to tighten economic pressure on Moscow and its trading partners.