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US Threatens Higher Tariffs Over Russian Oil Purchases, Calls for EU Support
The United States has issued a strong warning to India, cautioning that secondary tariffs could be increased if New Delhi continues to import Russian oil in large quantities. The message comes ahead of the high-stakes U.S.-Russia summit scheduled for August 15 in Alaska.
Warning Issued by US Treasury
U.S. Treasury Secretary Scott Bessent stated that the current secondary tariffs, which are additional surcharges linked to Russian energy imports, may rise further depending on the summit’s outcome. He linked the decision directly to Moscow’s stance on the ongoing Ukraine conflict, indicating that punitive measures would intensify if there is no diplomatic breakthrough.
Call for European Alignment
Bessent also urged European nations to align fully with Washington’s approach. He described the moment as “put-up or shut-up time” for Europe, stressing that a unified front would maximize the economic pressure on energy importers and the Russian economy.
Context of Tariff Dispute
The warning follows the U.S. move earlier this year to impose a steep 50% tariff on Indian goods in response to India’s sustained purchases of discounted Russian crude. This policy shift has added strain to bilateral trade relations and impacted several Indian export sectors, including textiles and engineering goods.
India’s Position and Response
India has maintained that buying Russian oil is an economic necessity to control domestic fuel prices and ensure energy security. Officials have also pointed out that several Western nations continue to buy Russian energy, questioning the fairness of Washington’s pressure.
