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US hints at scrapping 25% tariff linked to Russian oil
Financial Express Delhi
|January 25, 2026
US TREASURY SECRETARY Scott Bessent has hinted that the 25% extra tariffs on India could be scrapped following a reduction in Indian imports of crude oil from Russia.
"We put 25% tariffs on India for buying Russian oil. And Indian purchases by their refineries of Russian oil have collapsed. So this is a success. The 25% Russian oil tariffs are still on. I would imagine that there is a path to take them off," he said Friday, in an int
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