The US has temporarily allowed India to buy Russian oil currently stuck at sea in an effort to keep global supplies flowing and temper further price increases.

The US treasury has issued a 30-day waiver allowing India to buy Russian oil, having previously imposed heavy sanctions related to the war in Ukraine.

Bessent: We May Unsanction Other Russian Oil

The US Treasury’s Office of Foreign Assets Control targeted 12 shadow fleet vessels and their respective owners or operators that have collectively transported hundreds of millions of dollars’ worth of Iranian petroleum and petrochemical products.

US Treasury sanctions over 30 individuals and entities for enabling illicit Iranian petroleum sales

Trump’s top aide Scott Bessent criticised the EU over its new free trade deal with India, calling it “disappointing” and accusing Europe of putting commerce over principles.

‘Very disappointing’: Trump’s top aide attacks EU over ‘Mother of all deals’ with India, says Europe 'funding the war against themselves'

US Treasury Secretary Scott Bessent claims Canadian PM Mark Carney is "aggressively walking back" his Davos 2026 comments following trade threats from Donald Trump

Scott Bessent accuses Mark Carney of 'Globalist agenda' after Davos speech

US Secretary of the Treasury Scott Bessent also criticised European countries for buying refined Russian oil from India and labelled their trade behaviour an “act of irony and stupidity.” Bessent said that the European countries are financing the war against themselves by doing so.

Trump aide Scott Bessent hints at US removing 25% tariffs on India over Russian oil purchase

US Treasury Secretary Scott Bessent dismisses claims that Europe could dump US debt, calling it a false narrative amid tariff tensions.

Bessent calls Europe dumping US debt a 'false narrative' would 'defy logic'

Treasury Secretary Scott Bessent says the US is probing claims that Minnesota tax money stolen in welfare fraud may have reached al Shabaab. He blamed Biden and Gov. Tim Walz. 

Did stolen Minnesota welfare funds funnelled to terror group al Shabaab? Trump administration probes explosive claim

Trump publicly threatened to fire Treasury Secretary Scott Bessent and attacked Fed Chair Jerome Powell as the US economy sees back-to-back rate cuts and rising inflation.

'I wanna get him out, Scott!': Trump publicly jokes about firing Scott Bessent and Jerome Powell

Scott Bessent called Trump's approach a "home run", saying that it aligns with the president's goal of bringing industries such as semiconductors back to the US without disrupting long-term employment goals of the nation.

'Train us and then go home': US Treasury Secretary Scott Bessent explains Trump’s new take on H-1B visa

Donald Trump’s constant criticism of the Fed and his support for significantly lower rates have raised concerns about political interference in the central bank’s decision-making. Trump believes lower rates may give a boost from voters who cannot afford mortgages and other loans now.

Trump says Treasury Secretary Bessent ‘opted out’ of Fed chair race, 4 others in contention

As the August 12 tariff deadline nears, Bessent optimism signals progress but Trump hardline stance keeps pressure high on US–China trade talks.

Bessent points to ‘makings of a deal’ between US and China amid tariff tension

As Trump targets imports from copper to pharmaceuticals and sets an August 1 deadline for tariff hikes, Treasury projects record revenue, but economists caution against long-term risks to growth and global trade stability.

US aims for $300 billion in tariff revenue this year, says Treasury Secretary

Trump has put the trade talks in the hands of Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer. But according to the report, none of the three have much actual power, and they often seem to be working in different directions.

‘It’s all fake’: Trump’s trade war just for show? White House insider claims tariff threats are ‘theatrical game’

White House economic adviser Kevin Hassett also said that he was hopeful for progress with China on trade. He cited “loose discussions” between both nations but said that he personally did not have any talks with Chinese officials. World

‘We need to de-escalate’: US Treasury Secretary Bessent says he’s confident China will want to reach tariff deal

Bessent was speaking at a press briefing alongside White House Press Secretary. Bessent said that negotiations with India have been "relatively smooth". World india news

US-India trade deal soon? US Treasury Secretary Bessent says negotiations 'smoother' with India than other nations

World | Trending | Bessent’s remarks come a day before the US is set to raise its levies on China and several other nations as part of the reciprocal tariffs.

‘Playing with a losing hand’: US Treasury Secretary Bessent says China’s escalation was ‘big mistake’

World: DeepSeek, which rivals platforms like ChatGPT, introduced its latest version in January. According to Bessent, it triggered the downturn in the share prices of leading US tech firms, often referred to as the “Magnificent 7.”

‘Blame China’s AI, not Trump’: US Treasury Secretary claims DeepSeek responsible for tanking stock market, not tariffs

World: Ruhle suggested that Scott Bessent, who built his $521 million fortune managing massive hedge funds, can’t stomach Trump’s “absurd tariff math".

'Can’t stomach Trump’s absurd tariff math': US treasury secretary 'looking for exit door' after tariffs ruin his credibility

US Treasury pick Bessent 'is a fiscal hawk'

Donald Trump 2.0 cabinet: Billionaire Scott Bessent chosen as treasury chief; Dave Weldon to direct CDC

Another billionaire in Team Trump 2.0? Marc Rowan a top contender for treasury secretary

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Bessent: We May Unsanction Other Russian Oil

US Treasury sanctions 30 individuals and entities over illicit Iran petrol sales

Very disappointing: Trump aide attacks EU over ‘Mother of all deals’ with India

Scott Bessent accuses Mark Carney of 'Globalist agenda' after Davos speech

Trump aide Scott Bessent hints at US removing 25% tariffs on India

Bessent calls Europe dumping US debt a 'false narrative' would 'defy logic'

Stolen Minnesota aid funnelled to Somalia terror group? Trump admin probes claim

'I wanna get him out, Scott!': Trump publicly jokes about firing Scott Bessent

'Train us, then go home': US Treasury Secy explains Trump's new H-1B stance

Trump says Treasury Secretary Bessent ‘opted out’, four others in Fed chair race