Trump’s 25% Tariff Forced India to Scale Back Russian Oil Imports: US Treasury Chief

US Treasury Secretary Scott Bessent on Tuesday said that India significantly reduced — and effectively stopped — purchasing Russian oil following President Donald Trump’s decision to impose a 25 percent tariff, while the United States continues to weigh much harsher Sanctions on other major buyers, including China.

Speaking in an interview with Fox News, Bessent explained that the Trump administration is examining punitive tariffs that could reach as high as 500 percent on countries that continue to buy Russian petroleum, but pointed to India as an example of a country that responded to economic pressure.

“After the conflict started, India began purchasing Russian oil,” Bessent said. “But after President Trump imposed a 25 percent tariff, India has slowed down and ceased those purchases.”

His comments came amid growing discussion in Washington over a proposed Russia Sanctions Bill, which would give the US president sweeping authority to impose tariffs of at least 500 percent on nations that continue to import Russian oil.

The proposal, introduced by Senator Lindsey Graham, is still awaiting passage in the US Senate. However, Bessent confirmed that President Trump has already signalled his political support for the measure.

“Senator Graham has a proposal in front of the Senate regarding the 500 percent tariff on the buyers of Russian oil,” Bessent said. “The Senate wants to grant President Trump that authority, but we don’t think he needs it because he can already do it under the International Emergency Economic Powers Act.”

While India was cited as an example of compliance, Bessent reserved his strongest criticism for Europe and China, accusing them of continuing to bankroll Moscow’s war effort.

“Four years later, Europe is still purchasing Russian oil,” Bessent said. “They are effectively funding the conflict themselves.”

China remains the primary focus of Washington’s proposed punitive measures. US officials argue that Beijing’s large-scale purchases of discounted Russian crude are directly helping finance Russia’s military campaign in Ukraine.

According to Senator Graham, the bill would provide President Trump with unprecedented leverage over major economies such as China, India, and Brazil, enabling him to force an end to what he described as the funding of President Vladimir putin’s “carnage” against Ukraine.

Bessent noted that support for such measures within the US Senate is substantial. He claimed that as many as 85 senators were prepared as early as October last year to grant Trump the power to impose tariffs of up to 500 percent on China for continuing to buy Russian oil.

India, for its part, has consistently defended its energy policy, maintaining that its oil procurement decisions are driven by global market realities and the need to ensure stable and affordable energy supplies for its population.

New Delhi has repeatedly argued that energy security remains a critical national priority and that its trade decisions should not be viewed through a purely geopolitical lens.