US Treasury Secy calls on G7 countries to impose tariffs on countries purchasing Russian Oil

Washington DC [US] September 13 (ANI): US Treasury Secretary Scott Bessent on Friday (local time) called on G7 countries to join the US in imposing tariffs on countries purchasing Russian Oil.

According to a read out from the Treasury Department Bessent welcomes efforts to immobilize Russian assests.

"During today's call with G7 Finance Ministers, Secretary Bessent reiterated President Trump's call to our G7 partners that, if they are truly committed to ending the war in Ukraine, they should join the United States in imposing tariffs on countries purchasing oil from Russia. Secretary Bessent and Ambassador Greer (Jamieson Greer, United States Trade Representative) also welcomed commitments to increase sanctions pressure and explore using immobilized Russian sovereign assets to further benefit Ukraine's defence," the statement said

"Only with a unified effort that cuts off the revenues funding Putin's war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing," said Secretary Bessent and Ambassador Greer.

"Thanks to President Trump's bold leadership, the United States has already taken dramatic action against the purchasers of Russian oil. We are encouraged by the assurances of our fellow G7 nations that they are committed to ending this war, and we are hopeful that they will join us in taking decisive action at this critical time," the statement further read.

The United States has levied an additional 25% tariff on India on the grounds that it was continuing to purchase Russian Oil. This was in addition to the 25% tariff previously announced by US President Trump.

Earlier on September 2, Bessent had expressed confidence that India and the US will resolve trade friction between them, as he believed that New Delhi's values are much closer to Washington than to China and Russia.

In an interview with Fox Business, Scott Bessent said. "I think at the end of the day, India is the most populous democracy in the world. Their values are much closer to ours and to China's than to Russia's."

"I think at the end of the day, two great countries will get this solved. But the Indians have not been great actors in terms of buying Russian oil and then reselling it, financing the Russian war effort in Ukraine," he told Fox Business.

This statement was later echoed by President Trump on September 10. In a post on Truth Social Trump welcomed continued engagement with India on trade.

"I am pleased to announce that India and the United States of America are continuing negotiations to address the Trade Barriers between our two nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!" Trump had posted.

The positive approach was also welcomed by PM Narendra Modi who said that India and the US are working on closing the trade deal soon.

"India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership. Our teams are working to conclude these discussions at the earliest. I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people," PM Modi wrote on X.

However, the contradictions withing the American administration once again came to the fore when on Friday, President Trump told Fox News that he was 'losing out fast' on patience with Russian President Vladimir Putin and that the US would have to do something strong very fast. (ANI)

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