US Finance Minister Scott Besant
US Finance Minister Scott Besant has targeted India for buying oil from Russia. He has accused New Delhi of making profiteering at the cost of Western sanctions. In an interview, Besant said that India is earning a profit of Arabs by selling Russian oil again. He called it unacceptable about mediation.
Besant CNBC Told it, it is unacceptable to buy cheap oil from Russia and sell it again as a product. They are just earning profits. They are selling again. Besant has targeted this target at a time when India has continued to buy oil from Russia despite the threats of America and it is calling it a matter of national interest. India says that affordable Russian oil has been important to meet its growing energy needs and to protect consumers from global value shaking.
Besant has been attacking before
This is not the first time that the US Finance Minister has targeted India over Russian oil. In an interview to Bloomberg TV last week, Besant warned that the US could impose more tariffs on India if Alaska failed to talk to President Trump with Russian President Vladimir Putin.
A day before the Trump-Putin meeting, Besant had said, “We have imposed a secondary tariff on Indians who buy Russian oil and I think if things are not well, then ban or secondary tariffs can increase.” He also pressured US European allies to impose a fine.
In an interview to Fox News, Besant accused Europe of hypocrisy and said that European countries are still buying products from Indian refineries. He said, the time has come for our European counterparts to stand up either. He further said, if we want an integrated front, President Trump needs maximum effect and it means that Europe will play its role.
White House explained why restrictions imposed
White House press secretary Caroline Lewit said, President Trump has imposed restrictions on India to end the conflict between Russia and Ukraine. Trump has imposed a 25 percent fee on Indian goods coming to America. The additional fee of 25 percent for the purchase of Russian oil will be effective from August 27. This will make the total tariff 50 percent.
Responding to a question, Levit said that Trump has put a strong public pressure to end the war that has been going on for almost four years. He said, as you have seen, he has taken many steps including restrictions on India. He has made it clear that he wants to see this war ending. Lewitt said, the President wants to end this war as soon as possible.
India has described the tariff imposed by the US inappropriate. He has said that like any major economy, it will take all necessary steps to protect his national interests and economic security.
