US Treasury Secretary Scott Bessent has claimed that India has "stopped" buying oil from Russia after US President Donald Trump imposed a 25 per cent tariff on countries purchasing oil from Moscow. Trump has imposed 50 per cent tariffs on India, including 25 per cent for its purchases of Russian oil. A bill introduced by Senator Lindsey Graham has proposed a 500 per cent tariff on secondary purchase and reselling of Russian oil. “And just, just to be clear that we have Europe buying Russian oil, still, still, or four years later, they are financing the war against themselves,” Bessent added. The US, for long, has been planning to impose up to 500 per cent tariffs on China for the purchase of Russian oil.

Source: The Telegraph January 21, 2026 14:45 UTC