Now Reading: US official issues BIG warning despite PM Modi-Trump thaw: ‘More secondary tariffs…’
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US official issues BIG warning despite PM Modi-Trump thaw: ‘More secondary tariffs…’
US official issues BIG warning despite PM Modi-Trump thaw: ‘More secondary tariffs…’
The comments come at a time the US has already levied a hefty 50 percent tariff on India, half of which is for New Delhi’s purchase of Russian oil. US President Donald Trump and his officials have repeatedly berated India for the trade, which the latter has defended. Read on for more on this.
Prime Minister Narendra Modi and US President Donald Trump.
US treasury secretary Scott Bessent has warned of more sanctions on Russia and the countries that engage in business with it. Bessent said this can bring about an economic collapse, which may force Russian President Vladimir Putin to join the negotiating table for talks to end the war in Ukraine. In an interview with NBC on Sunday, the US official did not name any countries other than Russia, but India remains a key importer of oil from Moscow — which has led to a strain in India-US relations.
What did Scott Bessent say on Russia sanctions?
In the NBC interview, Bessent said: “We are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up. And if the US and the EU (European Union) can come in with more sanctions, more secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse and that will bring President Putin to the table.” He also called on European leaders to support the US in pressurising Russia.
How are India’s relations with the US presently?
The comments from Bessent come at a time the US has already levied a hefty 50 percent tariff on India, half of which is for New Delhi’s purchase of Russian oil. US President Donald Trump and his officials have repeatedly berated India for the trade, which New Delhi has defended. However, there appears to be some thawing in strained ties after Trump praised PM Modi and called him a “friend.” The Indian PM responded saying he “fully reciprocate(d)” Trump’s sentiments.
What is the latest on the Russia-Ukraine war?
Russia’s war with Ukraine, which began after Putin ordered a full-scale invasion of the neighbouring country, is now in its fourth year. Several attempts from Trump, including a much-awaited meeting with Putin in Alaska, have so far failed to result in a breakthrough in peace talks. Russia has been slapped with wide-ranging sanctions from the US and the Europe, but has found customers for its oil and gas in several countries including India and China.
