India is profiting from cheap Russian oil - Bessent
US Treasury Secretary Scott Bescent accused India of profiting from a sharp increase in purchases of Russian oil. Washington considers the situation unacceptable.
This was reported by Censor.NET with reference to Reuters.
According to the minister, Russian oil currently accounts for 42% of India's total oil purchases. Before the full-scale invasion by the Russian Federation, the figure was 1%. He compared the situation with China, whose purchases of Russian oil increased from 13% to 16%.
"India is simply profiteering. They are reselling. I would call this Indian arbitrage — buying cheap Russian oil and reselling it as a product that appeared during the war — this is unacceptable," Bessent said.
US tariffs against India for purchasing Russian oil
We would like to remind you that US President Donald Trump previously announced that he would impose a 25% tariff on imported goods from India starting August 1, 2025, as the country is one of the largest importers of Russian oil.
US President Donald Trump's adviser Stephen Miller claimed that India is effectively financing Russia's war against Ukraine by purchasing oil from Moscow.
On Wednesday, August 6, US President Donald Trump signed an executive order imposing an additional 25% tariff on imports from India in response to its continued purchases of Russian oil.
Subsequently, the Indian Ministry of Foreign Affairs commented on US President Donald Trump's decision to impose additional 25% tariffs, calling such actions "unfair and unreasonable."
On August 6, Trump signed an executive order imposing an additional 25% tariff on imports from India. This tariff rate will apply to goods entering the US market starting at 12:01 a.m. 21 days after the date of publication of the executive order.
