US Treasury Secretary Scott Bessent arrives before a news conference with President Donald Trump | File photo
Photo : AP
United States Treasury Secretary Scott Bessent called for the Trump administration and the Europe to step up economic pressure on Russia, saying it could compel President Vladimir Putin to enter peace talks with Ukraine.
Bessent, while speaking to NBC, signaled that Washington is open to partnering with European countries to impose more sanctions on countries that buy Russian oil. The countries that buy Russian oil includes India.
“We are prepared to increase pressure on Russia, but we need our European partners to follow us,” Bessent told NBC News’ “Meet the Press.”
“We are in a race now between how long can the Ukrainian military hold up, versus how long can the Russian economy hold up?” Bessent said. “And if the U.S. and the [European Union] can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in total collapse, and that will bring [Russian] President [Vladimir] Putin to the table.”
The Trump administration has imposed 25 per cent reciprocal tariffs on India and an additional 25 per cent levies for Delhi’s purchases of Russian oil, bringing the total duties imposed on India to 50 per cent, among the highest in the world.
India has called the tariffs imposed by the US “unjustified and unreasonable.” The tariff announcement came as officials from India and the US were engaged in negotiations for a bilateral trade agreement.