Brief by Shorts91 Newsdesk / 04:23pm on 20 Jan 2026,Tuesday India Global
US Treasury Secretary Scott Bessent claimed India stopped purchasing Russian oil following the Trump administration's 25% tariffs, while announcing potential 500% tariffs on countries buying Russian energy. Bessent stated President Trump doesn't need Senate authority to impose such tariffs under IEPA, though Senator Lindsey Graham's Russia Sanctions Bill seeks to provide explicit authorization. The Treasury Secretary criticized Europe for continuing Russian oil purchases four years after conflict began, calling it "financing the war against themselves." He also targeted China, a major Russian oil buyer. Graham's January 8 proposal aims to pressure China, India, and Brazil into abandoning cheap Russian oil that finances "Putin's bloodbath against Ukraine," giving Trump "tremendous leverage" over these nations. (PC: Reuters)
