US Treasury Secretary Scott Bessent on Friday urged G7 countries to align with Washington in imposing tariffs on nations that continue to purchase Russian oil, calling it a decisive step to cut off revenues fuelling Moscow’s war in Ukraine.
According to a Treasury Department readout, Bessent, during a call with G7 Finance Ministers, stressed that only a “unified effort” targeting Russia’s energy revenues could apply the necessary economic pressure to end the conflict.
“Secretary Bessent reiterated President Trump’s call to our G7 partners that, if they are truly committed to ending the war in Ukraine, they should join the United States in imposing tariffs on countries purchasing oil from Russia,” the statement read. Bessent and US Trade Representative Jamieson Greer also welcomed commitments to intensify sanctions and explore the use of immobilized Russian sovereign assets to support Ukraine’s defence.
Highlighting President Trump’s “bold leadership,” Bessent noted that the US had already imposed additional penalties on Russian oil buyers. Washington has levied a 25% tariff on Indian goods, citing New Delhi’s continued imports of Russian crude, in addition to an earlier 25% tariff announced by Trump.
Despite the tensions, Bessent recently voiced optimism that trade frictions with India would be resolved, calling India “the most populous democracy” whose values are “much closer to Washington than to Moscow or Beijing.” His remarks were echoed by President Trump, who on September 10 said he looked forward to concluding negotiations with Prime Minister Narendra Modi on easing trade barriers.
PM Modi welcomed the engagement, affirming that India and the US are “natural partners” and expressing confidence that ongoing discussions would unlock the “limitless potential” of bilateral ties.
However, contradictions within the American administration surfaced again, as President Trump separately told Fox News that his patience with Russian President Vladimir Putin was “running out fast” and warned that the US would have to “do something strong very soon.”
