Despite Modi–Trump bonhomie, India risks fresh US tariffs over Russian oil

In a development that could have ramifications for India, US President Donald Trump on Sunday said he’s ready for another round of sanctions on Russia over the war in Ukraine. “Yeah, I am,” he told reporters when asked about it at the White House.
He said no more. But there’s key context from just hours earlier, suggesting that the US is moving towards more tariffs and other squeezes on Moscow and/or its oil buyers such as India.
By just hours, Trump’s “yeah” followed US treasury secretary Scott Bessent’s call for more sanctions on countries that buy oil from Russia — India has been prominent on this list — to ensure the “collapse” of the Russian economy.
In an interview with NBC on Sunday, US treasury secretary Scott Bessent urged the European Union (EU) to follow in US’ footsteps and impose sanctions on countries buying Russian oil, to trigger a “collapse” of the Russian economy, which he believes would go a long way in ending the Russia-Ukraine war, and bring Russian President Vladimir Putin to the table to etch out a peace deal. In his reference to “countries that buy Russian oil”, Bessent did not name any as such, but India remains the biggest target of US tariffs over this issue, despite a recent thaw which saw President Donald Trump and PM Narendra Modi underlining their mutual appreciation and friendship through the press and social media.
“… And if the US and the EU can come in with more sanctions, more secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse and that will bring President Putin to the table,” he said.
“We (the US) are prepared to increase pressure on Russia, but we need our partners in Europe to follow,” Bessent said in the interview. Russia is under crippling sanctions from both the US and Europe since the start of the war, but has found customers for Russian oil and gas in India, China and elsewhere.