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India profiteering from Russian oil: Bessent
Financial Express Kochi
|August 20, 2025
The US Treasury secretary Scott Bessent on Tuesday said that India is profiteering from Russian oil and made $16 billion in excess profits.
Bessent noted that China's import of Russian oil is at a suboptimal level while India has significantly increased its purchases of Russian barrels post the invasion of Ukraine.
"China importing is at sub-optimal. If you go back to pre-2022, pre-invasion (of Ukraine), 13% of China's oil was already coming from Russia. Now, it's 16%, so China has diversified input of their oil. India has less than 1% of their oil coming from Russia (before 2022). And now I believe it's 42%. India is just profiteering, they are reselling."
This story is from the August 20, 2025 edition of Financial Express Kochi.
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