'If US and EU can come in...': Scott Bessent hints at more tariffs to hit Russia, India on watch
The Trump administration is pushing for a united front on sanctions, including targeting third-party buyers of Russian oil—a move Bessent claims could force President Vladimir Putin into negotiations.
- Sep 8, 2025,
- Updated Sep 8, 2025 7:13 AM IST
U.S. Treasury Secretary Scott Bessent warned Sunday that Russia’s economy will “collapse” if the U.S. and European Union expand secondary sanctions on countries buying Moscow’s crude oil.
In an interview with NBC News, Bessent said President Donald Trump and Vice President J.D. Vance held a “very productive” call with European Commission President Ursula von der Leyen last week. Von der Leyen followed up directly with Bessent to discuss escalating economic pressure on Russia.
The Trump administration is pushing for a united front on sanctions, including targeting third-party buyers of Russian oil—a move Bessent claims could force President Vladimir Putin into negotiations.
“If the U.S. and EU can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse,” Bessent said. “That will bring President Putin to the table.”
The remarks come amid worsening ties with India, after Washington slapped an additional 25% tariff on New Delhi’s imports of Russian oil, doubling the existing 25% duties to 50%. The new tariffs took effect on August 27.
President Trump defended the move Friday from the Oval Office, saying he was “very disappointed” that India continues to buy “so much” oil from Russia.
“We put a very big tariff on India, 50 percent tariff, very high tariff,” Trump said. “I get along very well with Prime Minister Modi, he’s great. He was here a couple of months ago.”
India has pushed back hard, calling the tariffs “unjustified and unreasonable.” It has maintained that its energy decisions are driven by national interest and market needs, not geopolitics.
Trump officials, including Bessent and trade advisor Peter Navarro, have openly accused India of indirectly funding Russia’s war in Ukraine through its oil purchases.
U.S. Treasury Secretary Scott Bessent warned Sunday that Russia’s economy will “collapse” if the U.S. and European Union expand secondary sanctions on countries buying Moscow’s crude oil.
In an interview with NBC News, Bessent said President Donald Trump and Vice President J.D. Vance held a “very productive” call with European Commission President Ursula von der Leyen last week. Von der Leyen followed up directly with Bessent to discuss escalating economic pressure on Russia.
The Trump administration is pushing for a united front on sanctions, including targeting third-party buyers of Russian oil—a move Bessent claims could force President Vladimir Putin into negotiations.
“If the U.S. and EU can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse,” Bessent said. “That will bring President Putin to the table.”
The remarks come amid worsening ties with India, after Washington slapped an additional 25% tariff on New Delhi’s imports of Russian oil, doubling the existing 25% duties to 50%. The new tariffs took effect on August 27.
President Trump defended the move Friday from the Oval Office, saying he was “very disappointed” that India continues to buy “so much” oil from Russia.
“We put a very big tariff on India, 50 percent tariff, very high tariff,” Trump said. “I get along very well with Prime Minister Modi, he’s great. He was here a couple of months ago.”
India has pushed back hard, calling the tariffs “unjustified and unreasonable.” It has maintained that its energy decisions are driven by national interest and market needs, not geopolitics.
Trump officials, including Bessent and trade advisor Peter Navarro, have openly accused India of indirectly funding Russia’s war in Ukraine through its oil purchases.