Washington: US Treasury Secretary Scott Bessent has said that President Donald Trump does not require formal approval from the Senate to impose a massive 500 percent tariff on countries purchasing Russian oil. However, he made it clear that the main target of this proposed action is China — not India.
Bessent claimed that after the Trump administration imposed a 25 percent tariff on India, New Delhi scaled back and eventually stopped buying Russian oil. According to him, Washington’s aggressive trade stance has already influenced India’s import decisions.
Explaining the proposed move, Bessent referred to the Russia Sanctions Bill, which would allow the United States to impose at least a 500 percent tariff on nations continuing to buy oil from Russia. The bill has reportedly received President Trump’s approval earlier this month.
In an interview, Bessent said, “Senator Lindsey Graham has introduced the proposal in the Senate. We’ll see if it passes, but in our view, President Trump does not need Senate approval. He can act under the International Emergency Powers Act (IEPA). The Senate just wants to formalize that authority.”
He also criticized Europe, saying that even four years into the Ukraine conflict, several European countries are still purchasing Russian oil and effectively funding the war they oppose.
Turning to China, Bessent said Beijing is the largest buyer of Russian oil and accused it of propping up Moscow’s war economy by purchasing discounted crude. He added that Washington has long been considering tariffs as high as 500 percent on China for this reason.
Responding to the developments, India’s Ministry of External Affairs said it is fully aware of the proposed legislation and is closely monitoring all related developments.
