In an interview with mediapersons, Treasury Secretary Scott Bessent expressed confidence that the United States and India can overcome current tensions, despite disagreements. Bessent's comments came just hours after President Donald Trump stated that India had offered to eliminate tariffs.
Bessent addressed various issues, including India's continued purchase of Russian oil, its participation in a meeting with Russia and China, and the ongoing trade disputes between the two nations.
Bessent criticised India's energy trade with Russia, arguing that New Delhi's import of discounted Russian crude and the subsequent resale of refined products are effectively funding the Kremlin's war in Ukraine.
He stated, "But the Indians have not been great actors in terms of buying Russian oil and then reselling it, financing the Russian war effort in Ukraine." He added that both India and China were "fuelling the Russian war machine," and that "at a point we and the allies are going to step up."
Bessent also noted that the Trump administration is considering sanctions against Russia, with "all options on the table." He accused Russian President Vladimir Putin of escalating attacks despite recent peace talks.
Also Read: Trump Advisor calls India a 'laundromat' of Russia
The Treasury Secretary downplayed concerns about Prime Minister Narendra Modi's attendance at a recent meeting with Russian President Vladimir Putin and Chinese President Xi Jinping.
"This is a longstanding meeting, it's called the Shanghai Cooperation Organisation (SCO) and I think it's largely performative," Bessent said. He added that India, as the world's most populous democracy, has values far more aligned with the US than with China or Russia.
Bessent acknowledged the strong foundation of the US-India relationship, stating that the two democracies are capable of resolving their differences. "Two great countries will get this solved," he said. However, he cited slow progress in trade negotiations as a key reason for the US decision to raise tariffs on Indian goods.
Also Read: Modi to Putin: India, Russia stood by each other in tough times
Earlier, Donald Trump had called trade with India a "one-sided disaster". He alleged that the US has been unable to sell goods to India because of its high tariffs.
In a written statement, Trump claimed that India sells a "massive amount" of goods to the US, their biggest client, but the US sells "very little" to India. He attributed this "totally one-sided relationship" to India's high tariffs, which he called "the most of any country".
Currently, the US has imposed a 25 pc tariff on Indian goods, citing a significant trade imbalance. An additional 25 pc tariff was levied after India refused to comply with Washington’s demand to reduce its oil trade with Russia, bringing the total duty to 50 pc.
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