U.S. To Push Secondary Tariffs On Russian Oil Buyers
U.S. Treasury Secretary Scott Bessent has proposed that the United States, along with the European Union, impose additional secondary tariffs on countries continuing to import Russian crude oil. He warned that such coordinated measures could trigger a “full collapse” of Russia’s economy and force President Vladimir Putin to the negotiating table. The proposal comes amid continued concern over Moscow’s war in Ukraine.
Strategic Goal: Crippling The Russian Economy
Bessent argued that sustained economic pressure could outpace Russia’s ability to withstand sanctions. He described the standoff as a contest between Ukraine’s battlefield resilience and the durability of Russia’s economy. The strategy aims to weaken Moscow’s financial stability enough to push it toward diplomacy.
India Already Facing High Tariffs Over Oil Purchases
India has already been hit with steep U.S. tariffs totaling 50% on its exports, announced in August, due to its continued purchases of discounted Russian oil. The move has intensified trade tensions between Washington and New Delhi, with officials in both capitals closely watching the impact on bilateral economic ties.
