Saralnama
US Treasury Secretary Scott Bessent accused India of profiting by buying discounted Russian oil amid sanctions related to the Ukraine war, refining it, and reselling it as gasoline and diesel to regions that have sanctioned Russia, including Europe. He described this as 'Indian arbitrage' and claimed India made windfall profits estimated at $16 billion. Bessent also warned that secondary tariffs on India could increase if US-Russia talks fail. The US administration, including former President Trump, expressed frustration with India’s actions, viewing them as undermining sanctions on Russia. However, Bessent noted that China, the largest buyer of Russian crude, was not being similarly targeted at this time. The US has imposed a 25% tariff on Indian goods related to Russian oil purchases, signaling escalating trade tensions between the two countries over this issue. (Updated 20 Aug 2025, 02:29 IST; source: link)