&imwidth=800&imheight=600&format=webp&quality=medium "Not India, 'Europe is funding Russia's war': Trump team turns fire on Europe after accusing India of 'profiteering' from war")
US Treasury Secretary Scott Bessent has now shifted his criticism to Europe, saying that oil bought by India from Russia eventually makes its way back to European markets. “The most perverse part is, India is buying discounted Russian oil, guess where the refined products are going? They are going back to Europe. So the Europeans are financing the war against them,” he said in an interview. Bessent, a close aide of President Donald Trump, had earlier accused India of “profiteering” and “making billions” from the resale of Russian oil.
Why are US tariffs on India in place?
This come as India and the US continue trade talks after Washington slapped 50 per cent tariffs on Indian imports. Half of those duties took effect last month. Trump’s team has defended the move as a way to put pressure on Moscow by penalising countries that continue energy trade with Russia. Of the 50 per cent, 25 per cent was explicitly tied to India’s oil deals with Moscow.
What is the US asking from India and Europe?
In the same interview, Bessent said he hoped India would gradually reduce its reliance on Russian crude. Last month, he criticised New Delhi for making “huge” profits from reselling Russian oil. He also urged European partners to step up sanctions. “The Russians are testing the Europeans and the European resolve needs to stiffen. They need to put everything on the table in terms of economic sanctions,” he said.
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Trump has also pushed the EU to impose sweeping tariffs of up to 100 per cent on India and China. “We’re ready to go, ready to go right now, but we’re only going to do this if our European partners step up with us,” the Financial Times quoted an official as saying earlier.
What is happening with trade talks?
Meanwhile, Union Minister Piyush Goyal is in New York, where he met US trade representative Jamieson Greer. Both sides are said to be working on a breakthrough that could bring New Delhi and Washington closer to a trade deal.
