Washington: Signalling renewed strain on India and different main importers, america has known as on the European Union (EU) to hitch it in imposing stricter measures in opposition to international locations shopping for oil from Russia.
US Treasury Secretary Scott Bessant on Sunday emphasised that further sanctions by the EU in opposition to Russian oil consumers might cripple Russia’s economic system.
Chatting with NBC, he mentioned President Donald Trump and Vice President J.D. Vance had confused the significance of coordinated strain in opposition to Russia throughout discussions with European Fee President Ursula von der Leyen.
India is a key nation on this checklist. The USA has already imposed a complete 50 p.c tariff on Indian imports linked to Russian oil. Bessant’s remarks counsel Washington could try to boost this strain additional.
“The race is between how lengthy the Ukrainian forces can maintain and the way lengthy Russia’s economic system can maintain itself. If america and the EU act collectively, stricter sanctions will be utilized to international locations shopping for oil from Russia. Extra tariffs will be imposed. This might fully devastate Russia’s economic system and drive President Putin to return to the negotiating desk with President Trump,” he mentioned.
Final week, European Council President Antonio Costa introduced that the EU would ship a delegation to Washington to debate stricter measures in opposition to Russia. He mentioned the EU was coordinating with america and different companions on a unified sanctions strategy.
Trump has repeatedly criticised India’s purchases of Russian oil. He has imposed 50 p.c tariff on Indian imports, describing it as important, whereas asserting that he maintains excellent private relations with Prime Minister Narendra Modi.
From the Treasury and Commerce departments to commerce advisors, US officers have persistently singled out India. India has defended its Russian oil imports, calling them crucial for nationwide pursuits. The nation additionally factors out that EU nations stay the highest consumers of LNG from Russia, and China purchases extra Russian oil than India nonetheless faces no comparable tariffs.
Former US diplomat and Treasury adviser Evan Feigenbaum criticised Bessant’s name, describing it as inconsistent. He reposted Bessant’s remarks on X, stating that two EU members proceed shopping for Russian oil and fuel, making speedy enforcement unlikely.
Questions stay over India’s belief within the Trump administration. Regardless of praising Modi as a buddy, the US president’s statements and actions sign continued financial strain. Following Modi’s go to to the SCO Summit in Tianjin and conferences with Chinese language President Xi Jinping and Russian President Vladimir Putin, he posted {a photograph} of the three leaders, warning that India and Russia might fall below China’s affect.
In a state TV interview, Russian Overseas Minister Sergey Lavrov confused that China, India and Russia cooperate primarily based on mutual pursuits, although settlement is just not common throughout all points.
US Commerce Secretary Howard Lutnick informed Bloomberg that India could come to the negotiating desk inside one to 2 months to debate compromises with the Trump administration. Regardless of repeated strain, the US president insisted that US-India relations are particular and that Modi stays a buddy.
Analysts see restricted room for dramatic enchancment in ties. Parmeet Pal Choudhary, head of India apply at Eurasia Group, mentioned, “I don’t anticipate dramatic enhancements. Trump will proceed to make use of each software to make sure his negotiating place prevails.”
Finance Minister Nirmala Sitharaman reaffirmed India’s stance, telling News18 that the nation will proceed buying Russian oil and can pursue power offers that serve nationwide pursuits.
In the meantime, the EU has already imposed sanctions on India. In July, the EU restricted operations of Vadinar Refinery, owned by Nayara Power in Gujarat, as a part of broader sanctions focusing on the Russian power sector.
Bloomberg reported that Russia’s Rosneft had deliberate to promote its stake in Nayara Power, however EU restrictions might block that deal.
The mixed US and EU measures might place India in a tough place, balancing power safety and commerce relations with Western companions amid the continued battle in Ukraine.