US hints 'path' to scrap 25% levy on India over Russia oil

US treasury secretary Scott Bessent said on Saturday there is a “path” to remove the 25% tariffs imposed on India as a penalty for buying Russian oil, noting that such purchases by Delhi from Moscow have “collapsed”.

- Shashank Mattoo and Rajeev Jayaswal

The levy is part of a 50% tariff that goods imported from India are subject to in the US, though a large number of goods, including electronics, are exempt from this duty. Of this, the remaining 25% is on account of what Washington calls “reciprocal” measures, in response to Indian levies on American products.

Bessent on Friday defined the punitive sanctions imposed on India as a “success”.