On the one hand, US President Donald Trump is not tired of calling PM Narendra Modi a special friend, on the other hand his Finance Minister has asked G-7 countries to put heavy tariffs on India and China as both these countries are buying huge amounts of oil from Russia. In a statement issued by the US, India and China have been described as the main partners in Moscow’s war efforts in Ukraine.

On Friday, US Finance Minister Scott Bassant and Business Representative Jemisson Greer pressured their colleagues to take steps according to the tariff measures of Washington during a conversation with the G-7 finance ministers. He warned that the war can end only by cutting Russia’s energy revenue.

What did the US say in a joint statement?

In a joint statement after the meeting, Besent and Gierr said, “Only the integrated effort can prevent the revenue that funds Putin’s war machine. We will be able to put sufficient financial pressure to prevent fruitless killings.

Discussion on the use of seized Russian assets also
Virtual talks chaired by Canadian Finance Minister François Filip Champagne focus on the possible use of new restrictions, trade measures and the possible use of Russian assets seized to protect Ukraine. Canada, a country presiding over the G-7, emphasized that the member countries are united to increase the pressure on Moscow, protecting the long-term economic reforms of Ukraine.

America told when to remove tariffs?

This new appeal of Washington has come to light at a time when a spokesperson of the US Finance Ministry demanded tariffs on Chinese and Indian goods and argued that the struggle was prolonged by the continuous purchase of Russian crude oil at concessional rates from these two countries.

He further said, ‘The purchase of Russian oil being done by China and India is funding Putin’s war machine.’ He emphasized that these tariffs will be removed after the war ends.

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US Finance Secretary Scott Besant has called upon the European Union to increase the pressure on Russia with the US. He also indicated that new tariffs can be imposed on those countries which are buying Russian crude oil. The Donald Trump administration has already imposed 25% of additional tariffs on India to import oil from Russia. Due to this, the total tariff rate on India has now increased to 50%, which is one of the most tight charges levied on any country globally. This step has been especially taken when India is buying oil from Russia even during the war of war, which the US alleges that India is indirectly funding the Russia-Ukraine war.

Russia will increase with European cooperation
According to the NBC News report, Scott Besant said on Sunday (September 07, 2025) that the US is ready to impose additional restrictions on the countries buying oil from Russia in collaboration with European countries. He said that its purpose is to destabilize the Russian economy. Besant said in a conversation with NBC News, “We are ready to increase the pressure on Russia, but for this we need our European colleagues.”

Race of economic and military pressure
Besant said, “Now it has become a race that how long the Ukrainian army can last, how long the Russian economy should last for how long.” He further said, “If the US and the European Union together impose more restrictions on Russia, as well as secondary tariffs are imposed on those countries that are buying Russian oil, then Russia’s economy will be completely destroyed. This will have to bring Russian President Vladimir Putin to the solution table.”

Statements after the most widespread airstrike
Besant made this statement when Russia carried out the most widespread aerial attack ever after the war started. Shortly thereafter, US President Donald Trump had a meeting with Russia President Putin in Alaska. After this meeting, the US President invited Ukrainian President Volodimir Jailonsky and European officials to the White House to negotiate a possible solution to end the war. However, after this, efforts to stop or end the war are currently stalled.

Case related to tariff in Supreme Court
Besant also supported the Trump administration’s plea to reverse the decision of the circuit court in the Supreme Court, which opposed the President’s extensive tariff measures. He said, “I am confident that we will win in the Supreme Court.”

Tension is increasing between America and India due to trade and energy. After US President Donald Trump’s displeasure over India’s 50% tariff and Russian oil purchases, American Treasury Secretary Scott Besant has given a strong message about relations between the two countries. Besant said that there is a strong foundation between America and India and any differences between the two countries can be resolved.

What did US Treasury Secretary Scott Besant say?

US Treasury Secretary Scott Besant said in a special interview to Fox News that relations between the US and India are strong and it is possible for both democratic countries to resolve their differences. He said, “Two great countries will solve it.”

However, Besant took a tough stand on the continuous purchase of crude oil from Russia by India. He said that this activist of India is providing financial assistance to Moscow’s Ukraine War. He said, “India has contributed to Russia’s war efforts by buying cheap oil from Russia and then selling sophisticated products. This is not a good step.”

Besant has given the reason for the Trump administration to increase the tariff on India

Besant also gave the reason for the Trump administration’s decision to increase the tariff on India. He said that due to slow trade negotiations, America had to take 25% and then 50% tariffs. He also mentioned the recent meeting of Prime Minister of India Narendra Modi, in which PM Modi met Russia’s President Vladimir Putin and Chinese President Xi Jinping at the SCO summit. Besant said that India’s price system is close to America and China, not Russia.

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Expressing displeasure over buying oil from Russia, the US has also imposed 25 percent of additional tariffs on Indian products. 25 tariffs are already applicable, so products from India to America will have to face a huge tariff of 50 percent from Wednesday. Amidst all this, the US Finance Minister hopes that India and America will definitely come together one day.

US Finance Minister Scott Besant, however, hoped that Indo-US relations would remain strong. He said that India is the largest democracy in the world and America is the largest economy. In the end we will come together.

Talks stuck on trade agreement
Besant clearly said that the trade agreement has not been reached yet. He alleged that India’s attitude has been “performing” so far. He said that India started talks soon after Independence Day. It was expected that the agreement would be reached by May or June. But India took very cautious and measuring steps. Besant also said that India has earned profits from Russian oil and this is a big reason for the dispute.

Statements on Trump-Modi’s relationship
Besant admitted that the relationship between the two countries is complicated. He said that there are very good relationship between President Trump and Prime Minister Modi at a high level, but the matter is not just about Russian oil. Besant further said that America has a huge trade deficit with India. He explained that when there is a conflict in business, the country with losses (America) is in profit. A country with surplus (India) should worry. India may be selling things to America but its own tariffs are very high.

What did Besant say on the rupee and dollar?
When asked whether the trade in the rupee by India is a matter of concern, he replied that the Indian rupee is at the lowest level against the dollar at this time. I worry about many things, but the rupee will be a reserve currency, it is not among them.

India’s answer and PM Modi’s attitude
New Delhi has made it clear that it will not bow down to American pressure. Prime Minister Narendra Modi said that he will never compromise on the interests of farmers. According to a report by German newspaper Frankfurter Algemine Siteung (FAZ), PM Modi did not pick up four phone calls of President Donald Trump in recent weeks. The report said that this is a sign of both his anger and vigilance.

After imposing 50 percent tariffs on India for buying Russian oil, the Trump administration said that China’s oil imports are from different places and in such a situation, its condition is different. Finance Minister Scott Besant in the Trump government said on Tuesday (19 August 2025) that India is earning a big profit by purchasing oil from Russia. He said that some rich people of India are taking advantage of this.

Why did Trump impose a fine on buying oil from Russia?

During a conversation with CNBC, the US Finance Minister said, “India buys cheap oil from Russia and sells it again. All this is happening during the Russia-Ukraine War, which cannot be accepted under any circumstances. Earlier India used to buy less than one percent of its needs from Russia, but now 42 percent oil is being bought from Russia.

China’s situation is different- Trump administration

He said, “Before the attack on Ukraine by Russia, China was buying 13 per cent of its need from Russia and now buying 16 per cent oil. Beijing oil imports are from different places, so their condition is different.” Trump has imposed 50 percent tariff on India to buy oil from Russia, while 30 percent tariff has been imposed on China.

US Finance Minister Scott Besant said, Russia has earned more than 16 billion by purchasing cheap oil. There are some rich families of India. Trump has imposed a 50 percent tariff on India to buy Russian oil during the Ukraine War, which will be implemented from 27 August 2025. After this ban, Russia supported India and warned the US that any country is free to choose its business partner.

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The relationship between the two countries is being seen in the relationship between America on India. US Finance Minister Scott Besant has claimed that India has been slightly obstructed in trade talks with America. Besant’s comment came a few days after Donald Trump put 25 percent additional tariff on Indian imports citing oil purchases from Russia.

The additional tariff imposed on India by the US will come into effect from August 27, due to which both countries are trying to find a middle way through talks.

‘Still waiting for big business agreements’
According to a report by news agency Reuters, Besant said that big trade agreements are still awaited, including agreements with Switzerland and India. Referring to India especially, he said that India’s stand in the ongoing talks is a bit obstinate.

Besant reportedly to the Kudlo of the Fox Business Network said that the Trump administration can complete the trade talks till October last. According to Reuters, he said that it is ambitious, but I think we are in good condition. Besant further said that I think we can do so that all important countries will agree on concrete terms.

What did the Union Finance Ministry say
The Union Finance Ministry informed Parliament on Tuesday (August 12, 2025) that the US would affect more than half of India’s total export price. Union Minister of State for Finance Pankaj Chaudhary, in a written reply to Lok Sabha MP Abhishek Banerjee, said that it is estimated that about 55 percent of the total export price of India to the US is due to the reciperock tariff.

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US President Donald Trump has announced to impose 25 percent tariff (fee) on India. After this, US Finance Minister Scott Besant said on Thursday, July 31 that the Trump administration is “a little disappointed” from India. Scott Besant said, “India came to negotiate initially, but later slowed down things. So the President and his entire business teams are a bit disappointed with India.” Besant said these things in a conversation with CNBC. He also said that India buys a large amount of banned oil from Russia and reflects it to other countries, which are not being considered a right role globally.

Trump’s charge – India always makes business difficult
Trump said on his social media platform Truth Social on Wednesday (July 30), ‘Remember, India is our friend, but we have done very little business with him over the years, because India’s tariffs are very much. It is the highest in the world and has the most complex and uncomfortable non-monitoring business obstacles. “

Trump also said that “India has always been buying most of its military weapons from Russia and it is the biggest customer to buy energy from Russia with China. All this is happening at a time when the whole world is appealing to Russia to stop murder in Ukraine. All these things are not fine. So India will have to pay 25% tariffs from August 1 and also an additional fine.”

Expect deals from China
Meanwhile, Scott Besant also said that the US and China are close to a trade agreement. He said, “I think we have the possibilities of deal.” However, he admitted that work on some technical points from China remains. I am confident that it will be resolved, but not 100% yet. “

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There was a ruckus after the Big Beautiful Bill

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