US Treasury Secretary Scott Bessent has urged G7 nations to team up with the United States and slap tariffs on countries buying Russian oil. This move aims to starve Russia’s war funding in Ukraine and push for peace.
In a recent call with G7 finance ministers, Bessent echoed President Trump’s strong push. “If you’re serious about ending the Ukraine war, join us in hitting these oil buyers with tariffs,” he said, according to a Treasury Department statement. Bessent and US Trade Representative Jamieson Greer also praised pledges to ramp up sanctions and tap into frozen Russian assets to boost Ukraine’s defense.
They stressed that only a united front can cut off Putin’s cash flow at the source. “This will pile on the economic pressure to stop the senseless violence,” the statement added. Thanks to Trump’s bold steps, the US has already imposed tough measures on Russian oil purchasers. Bessent expressed hope that G7 partners will follow suit soon to end the conflict.
The US has hit India with an extra 25% tariff for continuing to buy Russian oil, on top of a previous 25% levy announced by Trump. This is part of broader US efforts to pressure nations supporting Russia’s economy amid the Ukraine crisis.
Just days earlier, on September 2, Bessent sounded optimistic about fixing US-India trade tensions. In a Fox Business interview, he noted India’s shared values with the US over China or Russia. “India is the world’s biggest democracy. Their values align more with ours than with Russia,” he said. He acknowledged India’s role in buying and reselling Russian oil, which fuels the Ukraine war, but added, “Two great nations will sort this out.”
Trump echoed this positivity on September 10 via Truth Social, announcing ongoing trade talks with India. “I’m thrilled we’re negotiating to remove trade barriers. I look forward to chatting with my friend PM Modi soon. We’ll reach a win-win deal for both countries!” he posted.
Indian Prime Minister Narendra Modi welcomed the approach, highlighting the strong India-US bond. In a post on X, Modi said, “India and the US are natural partners. Our teams are working fast to wrap up trade talks and unlock huge potential. I look forward to speaking with President Trump for a brighter future.”
Yet, tensions simmer within the US side. On Friday, Trump told Fox News he’s running out of patience with Russian President Vladimir Putin. “We need to act strong and fast,” he warned, signaling possible escalations in the Russia-Ukraine conflict.
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