Published on: Aug 19, 2025 06:51 pm IST
In an interview with CNBC, Bessent said India had made huge profits on the sale of Russian oil during the war in Ukraine.
As Trump’s tariff deadline for India nears, US Treasury Secretary Scott Bessent said on Tuesday that New Delhi was “profiteering” and “making billions” from its purchases of Russian oil.
In an interview with CNBC, Bessent said India had made huge profits on the sale of Russian oil during the war in Ukraine.
“This … Indian arbitrage – buying cheap Russian oil, reselling it as product has just sprung during the war – which is unacceptable,” he said.
The US official further added that India’s purchase of Russian oil has been benefiting “India’s richest families.”
Speaking to CNBC, Bessent defended US’ move to not put tariffs on China for its purchase of Russian oil as Beijing as “diversified oil imports and so its situation is different.”
This is a developing story…
