The Economic Times

25% penal tariff on India for Russian oil buys to end? Trump's aide says there's a way

US Treasury Secretary Scott Bessent indicated potential removal of 25% extra tariff on India if its Russian oil purchases continue to decline, calling the outcome a huge success. This comes as the US Congress debates a bill that could impose a 500% duty on countries buying Russian oil, while India maintains its focus on securing affordable energy for its citizens.