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Trump aide says US may cut India tariffs as Russian oil purchase dips
Hindustan Times Jaipur
|January 25, 2026
US treasury secretary Scott Bessent on Friday (local time) hinted that the additional 25% tariffs on India might be removed after its purchases of Russian oil significantly dropped, calling the trade measure a "huge success".
Speaking to Politico at the World Economic Forum, Bessent said Indian refinery purchases of Russian crude have "collapsed" due to the US tariffs. He suggested a diplomatic "path" exists to remove the duties, provided India continues to shift its energy sourcing.
"We put a 25% tariff on India for buying Russian oil, and the Indian purchases by their refineries of Russian oil have collapsed. So that is a success. The tariffs are still on. I would imagine there is a path to take them off, so that's a check and a huge success," Bessent told Politico.
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