US Treasury Secretary Accuses Europe of Ignoring Tariff Requests on Russia Oil
Scott Bessent criticizes European nations for declining to impose tariffs on India and China over Russian oil purchases, raising concerns about the US's unilateral pressure on Moscow.
US Treasury Secretary Scott Bessent claims Europe refused to join in imposing tariffs on India and China for buying Russian oil.
The US administration has paused sanctions legislation to assess the economic impact before further actions.
Bessent highlights the disparity in energy purchases, noting European countries have spent significantly more on Russian energy than on aiding Ukraine.
In a recent interview, US Treasury Secretary Scott Bessent expressed frustration over European nations' refusal to support the imposition of secondary tariffs on India and China for their purchases of Russian oil. Speaking on NBC's Meet the Press, Bessent questioned why the United States should shoulder the burden of pressuring Moscow alone, emphasizing that the Trump administration had sought coordinated action from European allies earlier this spring.
Bessent's comments come in the context of the US administration's temporary waiver of certain provisions under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. This waiver grants the administration a 60-day period to evaluate the implications of imposing sanctions and tariffs on countries heavily reliant on Russian energy, including India and China. Bessent clarified that no sanctions had been lifted, despite the executive order, and reiterated President Trump's commitment to ending the ongoing conflict between Russia and Ukraine.
The legislation, which has garnered bipartisan support, allows for tariffs of up to 100% on goods imported from nations that are significant buyers of Russian crude oil or natural gas. Bessent defended the decision to pause sanctions, stating it would enable the administration to better assess the situation before proceeding with further measures. He pointed out that Trump's administration had already imposed sanctions on major Russian energy firms, asserting that no one had been tougher on Russia than Trump.
Bessent also criticized European countries for continuing to purchase Russian energy while expressing support for Ukraine. He noted that during the first half of the year, 140 cargoes from Russia's Yamal facility were shipped, with the majority going to European nations, amounting to over $8 billion. He argued that European nations have provided more financial support to Russia than to Ukraine, highlighting the inconsistency in their stance.
Looking ahead, Bessent suggested that the US administration would continue to engage with European partners to address the situation. He acknowledged the complexities involved, particularly regarding the energy needs of countries like India, which have diversified their energy sources but still rely on Russian imports. As the administration navigates these challenges, the focus will remain on balancing economic considerations with geopolitical strategies in the ongoing conflict in Ukraine.
