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Washington: US Treasury Secretary Scott Bessent claimed that the money continues to flow despite Europe phasing out direct ties with Russia significantly. He also accused Europe of buying oil products from India, which are refined through Russian crude, and indirectly funding the Ukraine-Russia war.
The remarks by the treasury secretary has come at a time when the US has put an additional 25 percent tariff on India over New Delhi’s purchase of crude oil from Moscow. This, even as India and the European Union all set to announce a Free Trade Agreement (FTA) on Tuesday.
"We have put 25 per cent tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India," Bessent has been quoted as saying in the media. He added, “And just to be clear again, the Russian oil goes into India, the refined products come out, and the Europeans buy the refined products. They are financing the war against themselves.”
Trying to put up a contrast between the US and Europe, he observed that while has increased Tariffs in connection with trade with Russia, Europe continues to benefit from Moscow through global oil trade.
Praising Trump for trying to stop the Russia-Ukraine war, he added that the US was trying to stop the war. “We will eventually end the war,” the secretary added. The comments by the US Treasury Secretary have come at a time when trade has once again become a centre of tensions, with the US accusing Europe over selective approach.
Meanwhile, India and the EU are likely to announce new trade deal today. Prime Minister Narendra Modi will hold a meeting with European Commission President Ursula von der Leyen and President of the European Council Antonio Costa in New Delhi on Tuesday.
