The US Treasury Secretary Scott Bessent on September 12, 2025, called on G7 countries to join the US in imposing tariffs on countries purchasing Russian oil. This was framed as a unified approach to cut off revenues funding Russia's war machine to end the war in Ukraine.

The US has already imposed a 25% additional tariff on India for its continuing purchases of Russian oil, adding to a previous 25% tariff announced by President Trump, effectively doubling tariffs on Indian imports to 50%.

The call for tariffs is part of an effort to increase sanctions pressure on Russia and explore using immobilized Russian sovereign assets to support Ukraine’s defense. Bessent emphasized that a unified international effort cutting Russia’s economic lifelines is essential to apply sufficient pressure to end the conflict.

While the US has imposed harsh tariffs on India, it has refrained from similar measures against China, maintaining a delicate trade balance with Beijing. The US accuses both India and China of enabling Moscow’s war by continuing to buy discounted Russian crude.

In the backdrop of these measures, President Trump and Indian Prime Minister Narendra Modi have expressed optimism about resolving trade frictions between their countries. Both leaders publicly stated commitment to continuing negotiations aimed at addressing trade barriers, with Trump expressing confidence in a successful conclusion and Modi emphasizing the potential of the India-US partnership.

However, Trump also communicated frustration with Russian President Vladimir Putin’s refusal to end the war and warned of stronger upcoming sanctions and measures, including tariffs and banking restrictions.

Key Points Summary:

US Treasury Secretary Bessent urged G7 members to join US tariffs on countries buying Russian oil to cut funding for Russia’s war in Ukraine.
The US levied an additional 25% tariff on India imports for continued Russian oil purchases, bringing total tariffs to 50%.
The US refrains from imposing similar tariffs on China, seeking to preserve trade balance.
Trump and Modi show optimism about resolving US-India trade disputes despite tensions over tariffs and energy ties.
Trump indicates impatience with Putin and hints at stronger sanctions soon.
US and G7 discuss using frozen Russian assets to aid Ukraine’s defence.
US accuses India and China of enabling Russia’s conflict by purchasing Russian oil at discounts.

This detailed report reflects the recent developments in US-G7 efforts to economically pressure Russia, the dynamics of US-India trade tensions linked to Russian oil purchases, and diplomatic engagements between Trump and Modi to resolve trade disputes while maintaining a firm stance on Russia’s war funding.

Based On ANI Report